$SPY price Action from Pandemic Low

Thought this was an interesting look at the SPY from a long-term perspective.

Very simple idea: Draw support channels from the pandemic low, containing all price action.

It was interesting to see how the support channels have meant less and less to SPY as we get deeper and deeper into this correction. Near the top, there is a great reverence for the channels, but as we have cascaded downwards, these areas of support and resistance have been exploited by Wall Street, as a means of trapping weak short/longs in what would otherwise appear to be great setups.