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New downward channel may already be set on the daily chart

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
D1Finance  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Beyond Technical Analysis Parallel Channel SPDR S&P 500 ETF (SPY) shortsetup tradesignal
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trendanalysis beyondta parallelchannel spy shortsetup tradesignal
New downward channel may already be set on the daily chart, sitting in plain site. I will hold my conviction , this looks like lower lows and lower highs headed toward the 400 level for $SPY. First point of resistance at 407.90.
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