$SPY

SPY may decline toward $700 if the up-sloping trend line breaks downward.

BearishHe framed it in days
“Every Earnings Winner Reversed Today”
Verified InvestingPublished Aug 28 · 2 passages

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So, we're starting here with the with the S&P. And today, the S&P is kind of not doing a whole lot, right? We initially looked to open up slightly higher and even pushed up. We're up about half a percent.

Look like we're going to tackle those potential all-time highs again. Not quite. Big reversal in the markets.

The market sold off, but eventually did rally up about 0.7% um intraday from those previous lows, before selling off into the end of the day and now actually going green. On a broader time frame, we're putting in a potential interesting couple of days coming up into these this beautiful kind of up-sloping trend line.

Should this up-sloping trend line ultimately end up breaking to the downside, I definitely could see the SPY come down closer to that $700 level.

Watchpoints

break of the up-sloping trend line to the downside

What this channel has said about $SPY

Verified Investing has 9 calls on this stock; only the adjacent ones are shown.

2026-08-31
So, let's start with the S&P and the QQQ today. They're down, right? S&P and Q's are both down, but I want you to pay attention to something.
Quote at 00:46 ›
2026-08-28BearishThis one
So, we're starting here with the with the S&P. And today, the S&P is kind of not doing a whole lot, right? We initially looked to open up slightly higher and even pushed up. We're up about half a percent. Look like we're going to tackle those potential all-time highs again. Not quite. Big reversal in the markets.
Direction flip
2026-08-26
Now, we'll get into the charts and start off with the S&P 500. Guys, you can see here on the S&P 500, we continue to maintain within this bearish near-term consolidation after coming down from this pivot high top back here on August 14th.
Quote at 00:53 ›
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