SPY Headed to 107_15 on Break of Trendline A

SPY Headed to 107_15 on Break of Trendline A

SPY is set to gap down and open at ~108.6. The most important thing to note is that SPY is opening near trendline A. If SPY breaks below trendline A, look for a backtest of trendline A to go short (if you are not short already). If SPY holds trendline A, then this is a shakeout. If SPY drops below trendline A then SPY is headed for 107.15 and most likely 106.6

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