$SPDR S&P 500 ETF Trust(SPY)$  


• This trendline is extremely important to break and close and would yield a sizable bounce to fill the gap at 517.

• Island bottom is still intact and it is the greatest weapon bulls have in their arsenal currently and have protected it for now.

• Any shenanigan move to the downside to fill the island bottom bull gap will act as a strong support and to cultivate a higher low scenario and possible trend shift again in the short term.

• Looking at the level 510 breaks and closes above tomorrow can see 512.


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