SPY is consolidating the gains from the last month. Its movement is very similar to the area of consolidation around the end of Feb - beginning of March, we saw the market move side-ways for 5 days and then a breakout happened on the 6th day. If we see a move higher tomorrow we could be repeating those higher high's and maybe see all time highs. On the other hand if we see a breakout to the downside we could be in for a revisit of the lows we saw the 2nd week of Feb.
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