$SPY is headed towards the 50EMA which sits at the $400 PL

SPY has taken out most of my bearish price targets and is headed towards the 50EMA which sits at the $400 PL.
This is a must hold or we'll see $396.50, $395, then the top of the downtrend breakout.
If it bounces off $400 we'll likely retest $404 before a continuation.