SPY seems to be at a point of indecision. There are support zones both above and below it. Personally, I think it's going to fail to hold the support and will continue down, but it's hard to say without more data. I'd wait for it to cross into one of those zones and then watch carefully to see what happens there on a lower timefram.
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SPY update from ~9h ago, 5m sticks. Looks like it's stopping around here and on the way down during afterhours.