Updated Technical Analysis on SPY 7.13.20

Sentiment: Short term Bearish

Reasons:
1.Strong Weekly Resistance (Now Support) at 317.59
2. Bearish Island Gap on Daily Chart
3. Bullish Channel Breakdown
4.Selling Volume Increase
5. Rising Wedge Pattern Formed After Market Open Gap up
5. Decrease in Overall Volume During this Pattern formation Confirms its Strength