SPY Should Pull Back to 108

SPY Should Pull Back to 108

SPY is set to open around 109.3. If SPY fills the gap today I would say this is a very bearish scenario because it tells me that if SPY drops then it won't be back at 109.7 anytime soon. On the other hand if SPY drops without filling the 109.7 gap then I consider this a bullish pullback overall. I expect SPY to drop to at least 108.02 to fill the gap up from yesterday. Trendline A should serve as resistance.

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