$SPY 765 failed which means continued corrective structure will playout. Flows did not lie on the weekly or monthly cycle as both favored downside. Technical support at 760-761 and then 756 next. Until the 50D EMA fails to be supportive.. the world isn't ending and this dip likely gets bought.. Flows: Weekly lean favors continuation lower, with 760 as the target. OPEX lean: down into 755-760. September's defensive complex is now the active structure. 760 flows are the strongest for September and will likely be defended.
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