S&P 500 - bull and bear thesis

ES_FSPYSPX
Hourly timeframe

* The next obvious move for SPY is to fill the gap at $422.16 and possibly go to the $327.83 gap fill as well

• Bull: A continuous close above $416.14 will take us to the $422.16 gap fill
  
• Bear: Another rejection at $416 will take us to $405