SPY closed today just at the bottom of the trend channel. After today's 2.52% drop, it might pop tomorrow and the confirmation of broken uptrend might be the day after. It also broke through short-term support around 89.75. Notice the 5 day moving average (yellow curve), which has turned downward. Also notice MACD at the bottom which is showing negative divergence (meaning downward move is accelerating).
IWM confirmed that the uptrend is broken (this was signaled yesterday). Today it broke through short-term support around 48.25. The state of 5 day moving average and MACD is similar to SPY's, mentioned above.
Disclaimer: No position in any of the mentioned securities.
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