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Maybe it will test the price channel lower boundary this time?
Small gap down, possible range day.
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SPY 5. Small gap down. Price cannot even get back to the EMA 20. Down again. Promising for the bears. I guess the bulls are going to give up, right? Ha ha.
Back a bit later ...
Charts posted are not recommendations. They are just a sharing of information.
100% measured move down, so should be another leg down but if the current rebound exceeds the orange tinted area (likely) the "another leg down" might be a higher low.
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The current rebound may touch the EMA20 from where we'll see.
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3 push down and double bottom, the low of the day might be in.
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Now breakdown is more likely, the line may not hold another test.
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