$SPY sitting right on its weekly trend line. Classic decision point.
The bulls want this bounce. They've held this line before. But holding a trend line doesn't mean you automatically bounce—it just means you haven't broken yet.
The real question isn't if we bounce. It's whether the bid shows up here or if we're just pausing before the next leg down.
Watch volume. Watch how price reacts at this level over the next few sessions. If we get a weak bounce with no conviction, that trend line won't matter much.
The bulls want this bounce. They've held this line before. But holding a trend line doesn't mean you automatically bounce—it just means you haven't broken yet.
The real question isn't if we bounce. It's whether the bid shows up here or if we're just pausing before the next leg down.
Watch volume. Watch how price reacts at this level over the next few sessions. If we get a weak bounce with no conviction, that trend line won't matter much.
