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$SPY - Not much has changed since my last update.
Price continues to consolidate while slowly pushing higher, moving toward the high-timeframe resistance range marked in red, aligning with the 1.414–1.618 Fibonacci levels I highlighted a few weeks ago.
That’s where I believe we’re more likely to see distribution, with liquidity starting to rotate into other assets that are still sitting in high-timeframe accumulation ranges on the mid-term.