SPY update - Feb 21

SPY confirmed first support levels noted here:

For now, 494-496 zone is valid support as well as UTL (upward trendline).

Also, I added a bull flag here (red lines).

My scenarios are:

Scenario 1. SPY holds yesterday lows + UTL.
Jumping back on 8EMA, showing strength, ready to do new highs.

Scenario 2. SPY going lower onto the next support - 21EMA, then 490-488 as pivots + Channel (flag) bottom.