Downside was still very much open but a lot of path dependence in this market. Looking at SPY at the yearly S1 right at the 400 area. Would have preferred a high volatile undercut into the 3850 target that we had from last week, but we are here. A meager bounce would not be higher time frame bullish.

Hourly Combo 13 + Sequential 13 on this bar.

The gist is, Hourly DEMARK Exhaustion off yearly S1. Small bounces are bearish, but they should defend here and it is an interesting spot to play scalps on the long side.