SPY Chart on a 60min timeframe suggests a descending triangle pending imbalance to the downside. The descending triangle structure constructed a high volume node through mutable weeks of rotations acting as distribution zones. In recent sessions, a downside break of the base of the structure signaled a change in hands of the auction, which penetrated low volume nodes <225 forcing overhead supply to unlock. We’ve seen this before as the central banks and large institutions use bearish structures as traps. Nevertheless, support sits in the 221-221.50 where high volume nodes extend outwards.