Still Waiting on the High Volume Reversal Bar — SPY Not There YeState Street SPDR S&P 500 ETFAMEX:SPYsentimenttimingSPY continues to grind higher… but the high volume reversal bar still hasn’t printed. That matters. Because without that confirmation, this move can continue squeezing — even if it looks extended. What’s interesting is that IWM has already shown the signal. That tells you something: 👉 Institutions are starting to show their hand… just not across the entire market yet. This is where traders get caught. They see price stretched, they try to front-run the reversal, but without volume confirmation, it’s just guessing. What I’m watching for on SPY: • A true high volume spike at resistance • Failure to continue after that spike • Clear signs of absorption (not just rejection) Until that shows up, this isn’t a confirmed reversal — it’s a setup in progress. The Institutional Pivot Matrix already has the location mapped. Now it’s about patience and confirmation. 👉 Location without confirmation = low probability 👉 Location + confirmation = trade I’ll be tracking this live as it develops.