Bearish pattern still holds but this time key short pivot didnt move lower so it stays at the same spot as yesterday. It is worth noting that we bounced off exactly from volatility cycle level (minor pivot) which will serve as a support (please keep in mind this levels is dynamic and you can track it on orderflow chart). The final level where bulls still have a chance is one deviation lower (about 4070 right now). Below that bulls will be in a lot of trouble. Personally I dont think its going to be broken which made me start building my long position on SPY.
For minor short levels trades I will be watching orderbook chart for confirmation.
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