5-minute chart of the SPY, intraday look. The reversal lower this morning has led to us going sideways over the past hour of the session. It looks to be a textbook bear flag that should resolve lower, so bottom-fishing bulls should have a quick exit strategy here. However, volume is light this week and will only get lighter as we get closer to Christmas, so it is tough to trust this market long or short. Best to keep a tight leash all positions and ideas here.
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Awesome and crisp analysis… as usual. Much gratitude, appreciate it.