$SPY analysisState Street SPDR S&P 500 ETFAMEX:SPYRo_N-chart_ideasSPY has been in downtrend for a while now. But bull traps are crazy. Due to short covering the biggest up days come in downtrend. So there are insane big rallies which end up being bull traps. Fri market closed on lows, then Monday took back up and Tuesday tried to hold. Wed was total change in character with market open with gap down and no bounce and closed on dead lows. So I expect market to be down with choppy up moves. Based on Fib, my target for downside is 627 which is 10% below ATH. Trade safe everyone