$SPY — Sep 10 closeState Street SPDR S&P 500 ETFBATS:SPYMTrades-TTSClosed 757.83, down 0.60%. But the whole loss came from the gap down at the open. Open to close was 0.20 points — price gapped, then went nowhere all session. Volume finally showed up. 42.72M vs a 36.4M average, the heaviest of this whole leg and 33% more than yesterday. And it produced nothing. Narrowest range of the sequence, 58% of a normal day. Heavy volume with no price movement means someone is taking the other side. Sellers pushed with size today and buyers absorbed it. 760.57 broke. But the low stopped at 756.64 — the 756.70 Key Level, to the tick — right inside the MTF cloud (@ripster47 EMA cloud, Daily 20-21). Not a clean break. A clean break is wide and closes on the lows. This was a fight. Above 760.57 on volume = absorption, MTF Cloud Bounce (@ripster47 EMA cloud). Below 756.64 with the range expanding = MTF Break, then 750. Tomorrow's volume decides it.