SPY broke below the 449-450 support level with a gap and it failed to fill the gap. Which kinda makes it look weak for the short term. SPY is most likely headed down to 440 support level which will be a retest of the march breakout. If the 440 level does not hold then SPY is most likely going to go down to 400-410 level. For the upside the bulls must recapture the 450 level before any bullish move and potential gap fill at 465.