The trading session has been a grind thus far, with not much going on other than it frustrating the heck out just about everyone. If you look at a 10-minute chart going back to Friday’s huge gap lower on the SPY, you can see that the market has essentially gone sideways ever since. If the bulls are going to make an attempt to close that gap, this afternoon into tomorrow is their chance. This period of boring consolidation lends itself to the idea of an explosive resolution (only on this 1-3 day timeframe!) one way or the other.
If the bulls fumble this opportunity and the resolution is an explosive move lower from here, then you know things really are that bad.
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LETS GO!!!!