SPX$SPDR S&P 500 ETF Trust(SPY

SPX$SPDR S&P 500 ETF Trust(SPY)$ XSPThis price action has the same energy as a toxic ex-boss telling you one thing on Monday, denying it on Wednesday, and taking credit for it on Friday. No major macro catalyst on the near horizon. The tape lately seems mostly driven by dealers and large funds balancing flow. We'll know if they're looking to go long on this dip or stay quiet a bit longer to see who wants to go all-in on the next poker round.

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