Bottom line, we have a downtrend breakout and some technical confirmation. Again, its not a slam dunk.
But my gut tells me sentiment got overly , so there is fuel for a rally. And we have a whole lot of support levels all the way down to $277 SPY to hold a sell-off - trendline, 100-day moving average, 200-day .
On the upside, clear sailing at least to $287. Probably higher