S&P 500 (SPY) Chart Facts

Bullish “Island Reversal” is still in effect (Bullish)
Gap from yesterday is still open as of today (Bullish)
Horizontal and downtrend resistance is at $206.97 (Bearish if we can’t clear above it)
$208.98 and $210 are the next resistances

SPY 65-mins Chart

Bullish “Hammer” candle is still gathering supporters (last two days) to push its agenda (Bullish)
Location of the Hammer is prominent — it’s exactly the same pivot level as where we threw a “Shooting Star” candle just few months back (Bullish)
Gap needs to be open for this momentum to continue, so far buyers are protecting it (Bullish)
Minor-term forecast is bullish given the parameters