- SPY daily is stuck between 50 and 100 SMA. Attempts to break above 100 SMA is not succeeding. So price has to breakout or breakdown below these moving averages for a bigger direction to happen.
- Indicator like stochastic has been in overbought region for some time now.
- Attempts to close above daily cloud is not succeeding. Price has to close above it soon or else we may see a bigger fall from the current levels.
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