Bearish
$SPY 3M Weekly Chart is the best indicator of what to expect on Monday. The key for the Bears (even before updated figures showing the spread of virus and factory closings came out after yesterday's close that pushed the $SPY in AH to its early day lows at $331.61) was that the weekly close at $332.20 was lower, even with a new all time high of $334.19 on Thursday was lower then $332.95 at 332.20 and even more important lower the the previous weeks range of $332.52 that lead to last Friday's $320.73. Any easy way to figure out what Monday's low/gap down open might be is to simply cut the range in half $320.73-$334.19/50%= $327.46. That's the area I'll be looking for for Monday. Any loss of more then 50% of the range, sub $327.46 would be extremely bearish and almoat surley mean the entire 334.19-320.73 range is erased as early as Monday/Tuesday. It could see that as Ive previously stated right off the open. Friday's close $332.20-1.42%=$327.48
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