SPY: Intraday bear flag identified alongside breach/failure of 65m supply/demand zones. Weakness in the market identified with failure of aforementioned KLs from April 26, 2022 published study. On watch for breach of day low of 409.25, leading into KLs of 406.60, 392.11, 375.27 (using weekly timeframe for price rediscovery in lower price shelves.) FOMC events this week align with elevated volatility and inflated premiums.