Similar to SPY, the downtrend is quite obvious. I listed 2 fib levels - first at $258 and second at $243. Given the current tech stock slaughter, I would not be surprised to see the second level reached. Worldwide uncertainties fuel into this waterfall like market condition and sector rotation does not help (funds are flowing into energy and rare metal). For value...
Short term downward channel holds strong. Near term target at $380 level based on Fib retracement. War, inflation, supply chain etc induced uncertainties will continuously impose headwind on the market. Be ready to embrace impact.
