Lots of reasons the spy will go down. First there is a weekly support around 260 so, we will probably test that, but there is also a long term support from Feb 2016 to October 2018 around 255. We are forming the next leg down of the bearish pennant. Also, the exetended fib is showing 253 as the next fib. There is a lot of resistance as you can see in the minute 200 sma. We are probably going to sell off on Sunday and gap down Monday and be at 270 Monday and then 253 on Tuesday. Volume should go up 30% I believe as well. The lowest green trend line is resistance from 6/3/19 and 9/30/19, which is also where we are testing the upper .236 fib. Oil and the Banking BKX index is revealing a down move. We are going to gap down to get out of the fib zone. The next three days match the distance that needs to be followed for the next down move. Corona virus is only getting worse and spreading like wild fire in the US. This is a reason for the market to panic and support the next leg or move downward.