At 1003, the SPY began to form a bearish flag consolidation on the 1min chart. At 1017, the SPY made a test of the 50% fib retracement of the market's current trading range (approx. 83.50 to 105.50). (I have been using this fib alignment on the SPY a lot in my recent trading. These retracement levels have been strong support/resistance for the SPY for a few weeks now.) Back to business, I entered the SKF on the 1026 bar and exited on the 1029 bar test of the low of the day.
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