$SPY : Waiting for a catalyst

SPY was perking up yeserday morning but finshed down -0.68% as afternoon sellers overwhelmed.

ES futures are again higher by 38 handles as of now. However, the pattern has been higher in the morning and sell-off in the afternoon for the past 5 out of 7 days.

Economic conditions are dismal. FED has injected massive liquidity and fresh addition of liquidity can be the catalyst to propel SPY higher.

Broader range is 280-293 while narrower range is 284-288. Going with the break when it happens.