SPY – Liquidity Flow & Macro Context

🧭 SPY – Liquidity Flow & Macro Context

Bias: Cautiously Bullish | VolanX DSS

SPY continues to respect the ascending channel — structure intact.
Each pullback toward the midline (660–654) offers liquidity-based entries within a healthy bullish trend.

Volume Context:
Rising volume confirms participation during expansions, while pullbacks show lighter volume → suggesting absorption, not reversal.

Macro Alignment:

Fed remains dovish 🕊️ → easing bias supports risk assets

U.S. government shutdown adds noise but hasn’t broken liquidity confidence

Rate-cut expectations remain elevated

Global rotation favoring Tech + Pharma → underpins SPY strength

Technical Map:

Support: 660 / 654

Pivot Zone: 667–675

Target 1: 688.5

Target 2: 701.5 (extended Fibonacci confluence)

Strategy:
Wait for controlled pullback into 660–654 liquidity zone → monitor volume fade & RSI reset → re-enter for next expansion leg.

💡 Any healthy pullback = opportunity, not exit.

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