SPY remains in bearish consolidation; failure to hold $760.40 support targets $757.67 gap fill.

First off, the S&P 500 with the SPY daily ETF. We did come down, as I said, nearly half a percent. Finished off the lows, which is encouraging here near-term because we did not come down and hit this level of support, $760.40.

Instead, we got down to 760. Uh, we got down to $760.94. Now, let's look at the 10-minute chart. You can see we got very close to hitting that level right after Bent's comments because today we were really quiet.

Yes, we gapped down, but guys, we were literally for about two hours in a straight sideways consolidation. Then Bent came out, dropped the markets, but then you see here the markets did bounce off their highs, not getting back up to where Bent made that announcement. still in bearish consolidation.

And guys, look back on the chart. We can see that on the 10-minute chart. Nice downward move, bearish chop. Nice downward move, bearish chop. All has led to the following day with price action moving lower.

Now, we do know that tomorrow we could have a good shot of hitting this level of support at 760 and 40. We'll see if we actually remain above that as we do have that PPI announcement coming out pre-market.

So, that will be my near-term uh navigation for support. If we open above, we should see some near-term bounce on that. If we open below, next stop will be this gap fill here at 757 and 67.