SPY MAR-2026State Street SPDR S&P 500 ETFBATS:SPYTWMMPROSPY broke below the 645 support zone and is now trading under a key distribution area, keeping the short-term structure bearish. Price is testing a demand/absorption pocket near 640; if buyers fail to defend it, downside opens toward 620 and potentially 606. A recovery back above 660 would be the first sign of strength, with 665-680 as the next upside reclaim zone.