SPDR S&P 500 ETF Trust

SPY - testing resistance tomorrow $256-$258

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It's not looking great.

Even though there is an RSI divergence, SPY has been in a descending channel since the beginning of March. It tested the channel's resistance line a few times and failed to breakthrough.

Tomorrow it might test it again, depending on the direction of the futures.

If it fails, $233 is highly likely, if not worse.

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