A typical move you see a lot of in the SPY; Higher high price breakout (1), pullback making a lower low (2) but price retains a significant level on multiple tests (more visible on the faster time frame), which lead to price squeezing higher.
Opening swing and first hour (Initial Balance). Very wide IB range today, yet the high was still taken out (higher value being priced in).
Volume Profile coming into today
ES globex, Opening session in black vertical dash line, arrows indicating entry potentials
Higher time frame: Daily price is spending a good deal of time within the 20- & 50-day MA window. A large gap remains overhead, and it would be healthy to spend some time auctioning this gap range, but a 65-min fast line/slow line cross would temporarily change this higher time frame bullishness.