Welcome traders! As always short and simple...yesterday I warned about a retest on our one hour chart on the SPY, it had indeed gone bullish for a bit but fell upon attempting to reach the larger descending triangle. As many may try to point out, YES, we may be still bullish on the long run but this is an analysis of the current times and action and right now we're seeing strong bearish action. Also if you look at the MACD you can see the attempt where it seemed to try and continue onto a bullish pattern but ultimately FAILED, we'll have to continue and see how this reacts because as earlier mentioned a break though the low of the start of the correction could continue to see bearish action, so remain on alert. Expect to see this reflect on the usual BBY , AMZN & ATVI . As always good luck and safe trading!