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S&P flirting with breakdown from 200 day resistance (again)

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

After four days of faintly flirting with breakout, the S&P is now flirting with breakdown.  Here is a 10 day chart and you can see that it had broken below intra-day support for the moment...

...but if you trace that line back 3 years, it has appeared at key turning points.

It may not be a bad spot to add to shorts.