The Market is too weak today, and SPY already broke down the first line of support 429, and now testing 2nd line of support SPY 426. Let’s see if it can hold there for a while.
Looks like the recent rebound from Oct 4 technically ended now, and it is a relatively weak rebound compared last two.
If you graph the SPY chart from July 31 to now, it is apparently still in down-trend track. I am not very sure know if there is still another down-leg towards SPY 400 area, but it has high chance based on various uncertainties the market is facing now. Technically, we probably see strong support around SPY 420 area, as this base has been formed substantially.
Try to be flexible, and good luck.
