SPY hourly Momentum Bull Flag

With such a voracious move off the recent 180 lows, it's often difficult to find support and resistance on smaller time frames. Here we have the hourly chart of the SPY, where you can see some sideways, digestive action in the past few days. This is something we call a "momentum bull flag." It appears the market is trying to hold onto its gains and has created a bullish descending channel on the hourly, which we expect to go higher. 


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