Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

UK Downgraded From Aaa.. Is The SPY Vulnerable?

|Includes: SPDR S&P 500 Trust ETF (SPY)

As reported in Yahoo! Finance the credit rating for the United Kingdom was no longer deserving of an AAA rating, the agency's highest mark. The takeaway for this report on from my perspective is that for the UK, credit was reduced because of medium term "sluggish" growth, it's interesting to note that low growth can limit creditworthiness, the reduction was only one notch to Aa1 but something to keep an eye on.

More importantly to me, the report cited "weaker global economic activity." This type of information is absolutely essential as the (NYSEARCA:SPY) approaches all-time resistance levels just over 156.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.