Quote Originally Posted by Andrei View Post
Hi Billy. We can see from pivots that any meaningful support is still far for IWM, however for SPY it seems that a strong pivot support cluster is just underneath with YS1, MS1 and WS1 quite close. Would you expect at least some kind of consolidation before any move either way?

Thanks.
Andrei, I am trading exclusively IWM and the SPY levels are a distraction and source of confusion.
So, I avoid to look at SPY's levels. But you are right, there is an important support at SPY's YS1 (109.19), 0.68% below Monday's close. But support is only potential support. Floor selling pressure remains much heavier than floor buying pressure for SPY.
Billy