SPY Technically Still in an Uptrend

SPY Technically Still in an Uptrend

SPY is set to gap down and open at ~112.3. This places SPY above trendline A which defines the upmove in SPY for the past ~10 days. As long as SPY can stay above trendline A then I expect SPY to fill the gap at 112.73 and challenge the 113.2 resistance level again. If SPY breaks below trendline A then I expect SPY to begin a pullback to 109.46.

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