Clearly it is following the channel but today and tomorrow if it closes below this channel, we could see it intensify. First level to watch is the 283 and the next is 272, indicated by the dark horizontal lines. 290 was called a few days back and now we have it locked, only to see where it could bounce back from.
Still following the same channel, hasn't broken down too bad. The solid lines represent a strong support and resistance levels and could bounce of those. Before I guess the bottom let's see the upside or the resistance levels at 9356 and 9849. First support is at 7516 a small dip could be possible to 7262 or even 7019 . Next is the levels I see on the Fib circles...
So far running the top line with a couple of times trying to pierce below. A fake breakout is in store but will eventually go down to probably 8288 or even lower to 7300. This should be the final final opportunity to buy it this low.
Trying to gauge where the top for the SPY in the current cycle would be. Past indicators have shown at these levels to be the reversal. Expecting it to top out on Tuesday or Wednesday to a high of 279 or the max reversal price point of 282.