SPY shows resilience with limited downside despite yield pressure; upside continuation depends on breaking the declining trend line.

First off, with the SPY daily ETF, we see price action down today.18%. We closed here at 764 and 20 up about 50 after hours. Mainly though, guys, we didn't even get near nor touch this declining trend line.

One of which price has really been interacting with uh about five out of the last six trading days. Instead, sending price a little bit lower and still closing within this range.

So, it wasn't that big of a down day. As I said, with the 10-year yield pushing up, we should have seen a little bit more selling pressure. We did not get that. That's telling them telling you the markets are being resilient, folks.

Now, if we do have further selling, I'm still eyeing this previous pivot high as a level of support at 76040. To the upside, got to be managing and monitoring this declining trend line as that's clearly the line in the sand for the S&P 500 to continue with this upward momentum on the charts.