The S&P 500 tracking ETF $SPY opened below a key up-sloping trend line today. This trend line had held the stock market higher for the past week. With the break below, it signals a break down near term in the stock market. Over the next few days, expect the SPY to fall to $216.50 and then $214.50. Note the chart below.
If This Line Breaks On The S&P, Here Is Where It Is Going, Check The Chart:
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