SPY Triangle Update

There is still nothing interesting about the SPY triangle with the break below yesterday which could be a potential Crazy Ivan shakeout, but I'd expect to see some accumulation building by now to lift the breakdown back in to and above the triangle, still nothing, however what is impressive is how cleanly it is bear flagging along the triangle's resistance trendline.

 Here's the last 3 days in which the pump and dump will become obvious and yesterday's break below a symmetrical triangle, considered a bullish consolidation/continuation pattern because of the preceding trend.

Note how well a bear flag has formed below the triangle.

 The 1 min chart clearly shows the pump and mostly dump of the last 3 days, but not much at out current position.

 2 min chart shows the same

As does the 3 min chart, there should be something on one of these long before the 5 min and there's nothing on the 5 min yet so I didn't include it.

It's an interesting situation. I think everyone knows about today's rather large POMO (about $4bn), I say that because I've been getting messages about it for about a week, we'll see, but I do recall some larger double POMOs failing to move the market at all.