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S&P 500 - bull and bear thesis

AMEX:SPY   SPDR S&P 500 ETF TRUST
$ES_F SPY SPX
Hourly timeframe

* The next obvious move for SPY is to fill the gap at $422.16 and possibly go to the $327.83 gap fill as well

  • Bull: A continuous close above $416.14 will take us to the $422.16 gap fill
  • Bear: Another rejection at $416 will take us to $405

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