The gap created between June 4 and June 5 remains in play even though it closed once.
Today’s gap suggests that further activity in this area is likely. That is, sooner or later SPY will be back here.
xF0 happens about 4 times a year, it is a reliable money loser.
I didn’t look at every occurrence but it looks like it loses about 1% whenever it happens. No doubt, eventually there will be an exception.
SPY will probably have to close with a loss today to keep xF0 from happening. A move like that will likely make the signal x30 which is quite negative.