$SPY >> 15 Minute Chart >> Hitting the filled Gap between the 7th & the 10th >> Bullish above the Top of the Gap in the 465 zone and bearish below the Bottom of the Gap at 463 >> Downside risk is a drop to 460 or possibly 457 to test support from Monday >> To the upside a break above the top of the gap and EMA 4 @ 465.44 would put the 100 SMA @ 467.11 on deck >> You will know $SPY is trying to make a real bounce when it turns the 100 SMA back into support >> Checkout the 50 SMA @ 469.80 & notice how it's hooking down >> it is set up for a "potential" Death Cross ☠ below the 200 SMA @ 469.09 >> This is the opposite of the Golden Cross ✝️ and is what bears 🐻 are looking for to confirm more downside risk >> There is a chance $SPY makes a higher low here at 463 >> that's what bulls 🦬 want to see >> With the Double Top at 473 a break below 463 would setup a potential full retrace of this week's move which would complete an Echo Theory pattern back to 457 >>