Davy_Dave_Charts

Watching for break below Channel

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BATS:SPY   SPDR S&P 500 ETF TRUST
SPY weekly chart: testing the bottom of channel, however, I don't have too much confidence for a bullish thesis due to the 10 Year Yield being so high, DXY at 106, weak relative strength and the widening gap between the MACD and Signal Line. IMO, we're more likely to break below the channel than continue within it.

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