I wanted to follow up on the $SPY chart I posted a few days ago.

I wanted to follow up on the chart I posted a few days ago, which showed the MACD and clusters of consolidation.
The current situation is that as long as $SPY maintains its daily trend, things should remain stable. However, if it fails to do so, bears may become more active and push for a retest of $405, $402.35, and possibly even a 50EMA meeting at the $400 price level. As of now, there is an inverse hammer pattern visible on both daily and weekly charts, but it is still inside on the week.