SPYs

You can see here how the $270 level was support today. The low trade was $268.61. There is support at that level because it is where the lows were in May and June, and it is where the low trade was on October 11th.. They rallied after becoming oversold but they are still in a downtrend.. I will continue to watch the $270 and $280 levels for support and resistance in the near-term.