S&P loses 200 day and back into old down channel

Closed below 200 day yesterday and pretty clear follow through today. You can see that that the price tested and is now back in the original down channel before the breakout in January. My guess is that we are at least going to test the center of the red channel and likely the blue trend line. Could even go as low as center of orange channel and test the purple trend line.

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Yesterday saw a test of both the 200 day and the orange down channel. Today seems to show a clear rejection of both.

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