Time is a flat circle...
The stock market really is just a cycle of moves that are similar, but not the exact same. What I am getting at is that SPX and SPY both have had 8 consecutive days of consolidation in this zone.
As you can see the last time that we were consolidating this long in between these levels... there was a massive drop to new lows.
I can say pretty confidently that with CPI tomorrow, there is going to be a HUGE move up or down... you're welcome