SPY Must Hold Support at Trendline A

SPY Must Hold Support at Trendline A

Today's gap up was a bear shakeout. SPY has dropped to support at 109.8 and bounced for now, but SPY may drop further to support from trendline A. I expect SPY to hold this support level. If SPY does not hold support at trendline A then things get really ugly as I expect SPY to drop to 107.1 to fill the gap.

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