Potential SPY Targets

This is a look at some potential SPY intraday targets to the downside.

 Notice on the blue Bollinger Bands (10-min chart) of the SPY, price bounces between the lower and upper bands, this would imply a target around $127.30 depending on how fast the BB's move and how fast the average moves.

The 60 min Trend Channel is lateral which is an improvement from the downtrend it has been in. It too has a rough target of approximately $127.30 or so, again depending on how fast the TC moves up and how fast price moves. Right now, this is my best estimation of a downside intraday target for the SPY. If anything develops to suggest otherwise, I'll bring it to you ASAP.