SPY Rolling Down to 200-day SMA

Reversion to SPY's 200-day SMA seems highly probable. There is also the 50% fib retracement level which is right in line with the 200-day SMA at 350.29. This 350 area is a critical piece of support for SPY and once reached will likely lead to some choppy trading sessions before a continued move downward. In the meantime though... there is roughly 8% of unclaimed downside price action that seems highly likely SPY sees in the short term.


This is not trading advice. Good luck!