Explanation of Yesterday's Price Action

Explanation of Yesterday's Price Action

I should have seen it coming. Yesterday SPY rallied up until it tested trendline A and backed off. I didn't realize trendline A existed until I looked it for it. By that time it was too late. So we dropped back to 102.2, still SPY rallied back to near 103 at the close- breaking yesterday's downtrend. See next chart.

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