SPY Spiders ETF Daily Chart Sideways Symmetrical Triangle Breakdown Gaps

SPY daily chart shows the breakdown from the sideways triangle highlighted from the weekend charts. A back kiss back up to the lower trend line at 134-ish would be in order. Price tested the 50 day MA at 132.39 intraday yesterday and bounced. Note how the RSI dropped under the 50% level, bearish. Price now trying to fill that huge 131-133 gap.

Selling volume is stronger on down days. Indicators are continuing to weaken and pull price lower. Chart continues to top and roll over. BPSPX shows 74.40, so a drop from 83 to 74 is nine, well past the six percentage points that signal a trend change lower. A move under 70% will signal major selling in the indexes.This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.