Price gapped down to pivot and then just popped. Pretty spectacular move. The retracement after that move I was expecting to move higher than it did, but after the expansion price just rounded off and moved back down to R1.
Here was my look at the 5-min SPY today with the TICK in the subgraph. I'm really liking this chart setup.
Look at these moves on the 15-min chart. Also notice the momentum divergence on all three swing highs today. Price ended up back down just below the $84.33 consolidation range (the 20- & 50-EMA's heading back down to a crossover; amazing how quickly these moving averages are switching their orientation).
After all of that today we're left with a gravestone/shooting star-like doji candle.
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