- Hour chart has a GAP between 130.65 - 131.32.
- Price fading the GAP and closing below it may take SPY to 129.63. GAP may act as support too.
- Price in 30 Minutes time frame is staying below 50 Period moving average which is encouraging for bears.
- Price has given a breakdown from rising wedge in favor of bears.
- Now breaking yesterday's low may extend profit for bears.