$SPY Good morning gems and germs its time for another daily TA here's the breakdown . SP looks to have broken down from the previous bullish trend channel. And established a small bearish trend channel. Expected sp movement should continue along the bearish trend channel until the upper slope has been broken. Slopes downward from apx 332.45ish as the top slope and 330.5ish as the bottom slope. Expected rise should be to the bottom of the previous bullish trend channel slope @ apx 335ish. (This is continuing from the previous established megaphone pattern during last weeks bearish trend.) If the so does in fact rise back to the 335.15ath as expected. Probable significant further movement up to 350ish could be expected. If so does not continue higher and falls or breaks the 330ish support. Expected drop could fall to 325ish possibly 320ish and the megaphone pattern will have failed/broken
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