SPY Rising Channel Break or Shakeout?SPDR S&P 500 ETF TrustBATS:SPYimfromtheoceanSPY has been riding a clean rising channel for months and just briefly wicked below the lower trendline, then bounced back above — meaning this is a pivot moment. If SPY can reclaim ~675+ and hold, this was likely just a shakeout and the uptrend continues. If SPY instead rolls back over and closes under ~665 again, then the rising channel is broken and a deeper pullback is likely. This week’s close is extremely important — bulls need to hold/defend this lower channel. Bullish continuation (trend holds): Buy debit call spread if you see SPY reclaims & holds >675: Buy 680C / Sell 690C Target move back toward upper channel. Bearish break (channel fails): If SPY loses 665 on a close: Buy 660P / Sell 650P Target: move toward 650 zone where next support sits.