It is What it Is

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10-minute chart of the SPY shows a pretty clear cup and handle. As steep as most the daily charts of the indices look here, the smaller timeframes compose the longer-term timeframes in aggregate. The bears have defended 1220 on the S&P 500 thus far this week, but the more time it is tested the more likely it is to give way to an upside breach. I am not ruling out headfakes either, but above all else the idea is to resist the urge to short this market all the way up.