AMEX:SPY   SPDR S&P 500 ETF
114 1 2
Notes on chart
Or... we descend once again to the bottom of the channel? Problem is, the channel has so consistent, not sure if this is a break of sequence. Not sure which bottom to look at. This may be a new channel. If we break 183, I think then the new trend, new channel is set, which would confirm more of a rounded top to this market, descending lower from here, at least until the "sell in May" theory has exhausted itself. These last two days or earnings should have gapped up, and it did not, big tell i think, this market wants to go down and correct.
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