1. 200MA has tested it strong support.
2. There is a resistance and support within the 50EMA and 200MA, and that caused SPY bouncing in between.
3. The Ideal momentum is when it creates Higher High + Higher Low Candles consecutively. This momentum will break the 50EMA (resistance) and change it to support.
4. Candle - Indecisive direction. Hopefully it will Bull Bull Bull....
So basically this is what we all would like to see. Let the time tell us! No guessing! No gambling!
#2 Zigzag formed between 50EMA and 200MA,
and #3 Ideal setup would be as stated
and #4 Hopefully...