On the SPYs, notice that prices have already broken the upward slloping trend line that started at the beginning of March. Also note prices have crossed over one downward sloping trendline, but have been contained by another.
Although prices have broken through upside resistance, they have since fallen through. However, the upward sloping trend line still stands.
The iwms got to one downward sloping trend line, but have since retreated. However, prices are still above the upward sloping trend line that started in early March.
Remember -- sell-offs are natural, especially after strong rallies. But right now prices are right at important levels. In some case -- the IWMs and the QQQQs, prices have moved back through important areas of support which they moved through recently.
