Different Day Same Trendline Test

Different Day Same Trendline Test

Yesterday SPY dropped near the end of the day and fell below trendline A, SPY closed backtesting trendline A. Today SPY is set to gap up and open at ~112.2. This small gap should be closed today. If SPY does fill the gap, drops below trendline A and stays below trendline A, then SPY is headed for 109.52 to fill the gap. If SPY can stay above trendline A, then SPY is headed to 113.8. I don't see much resistance in between 112.3 and 113.8, so I'm very fearful of a big rip to the upside.

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