SPY Briefing for Thursday 6/8/23

I'm waiting to see if 427 is recovered tomorrow morning. Based on the price action and MFI today, it looked like it was going to around 2:30 EST, but buying wasn't strong enough. I'll wait to see what happens in the morning. If we recover, the same levels from last night apply: 427.20 support and 428.28 resistance, followed by 429.70. If we gap down overnight or fail to recover 427, I'll be looking for a retest of 422 at the very least. It's likely to come at some point soon. Inflows have been decreasing since last Friday, so it seems likely that a retest is imminent, though anything's possible. My support levels below 422 are 420.18, 417.79, 416.86, and 415.58.