On the 5-minute chart, this contraction should resolve within the next couple of candles. The key levels here are the 757.55 lower 15-minute ORB, PML at 757.69, 20 SMA at 757.84, and lower daily EM at 757.92. Bulls need a break above 758. Bears need a 5-minute close below 757.55, then confirmation for a signal that $SPDR S&P 500 ETF Trust(SPY)$ could head lower. The lower wicks on the candles show price is being defended by buyers. Volume has increased, which points to positioning for the next session.
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