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$SPY holding 747 is key for continued upside, break below invalidates the current push.
Watching $SPY closely here. The bounce off 747.41 looks like it's trying to hold, but a close below that level would pretty much confirm a retest of lower support for me, invalidating the current upward momentum.
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That's a solid read on SPY. I'm curious what kind of volume you're seeing at that 747 level – is it looking like strong support or more like a temporary bounce?