SPY has been respecting that long vertical trend line that has been followed since November. Today it made an attempt to close under it but price was pushed up during power hour. There is a chance this might be the reversal. However, If we open below then price might tank toward that 26 MA level, which is around 356. looking at the weekly chart on spy, the blood bath has barely begun according to the MACD. So I would remain cautious for more confirmation. If next week remains red then we should expect a bearish month. Good luck everyone.