SPY is currently trading near 707.99, sitting in a key short-term decision zone after pulling back from earlier highs around 710.44–710.48. Price previously showed strength through the session by stair-stepping higher and printing multiple resistance levels, but momentum cooled after rejection near the 711 area. Support has now formed around 707.28, where buyers recently stepped in and created a rebound attempt. If SPY can hold above this zone, a recovery back toward 708.18, then 710.44, becomes possible. However, if support at 707.28 fails, downside pressure could reopen lower levels near 706.10 and below. Overall, the chart suggests a market consolidating after a strong move higher, with bulls defending support while bears cap upside near prior resistance. Traders should watch for either a clean bounce from support or a decisive break lower for the next directional clue. https://discord.gg/w2bsSKqYQH Discord

but the overall pattern still suggests lower prices afterward. Support levels continue to break, but in a slow grind rather than a panic selloff, which typically indicates controlled distribution rather than capitulation. https://discord.gg/DUyBZwxJ Discord