SPDR S&P 500 (SPY)

[AllTheHype]

With the Upper BB, if it is uptrending SPY will tend to breach it on occasion (not solid R), albeit without getting too out of touch. But if it is downtrending or horizontal, it usually serves as R, and I think that is what we are seeing.

Your number is 270.43 to be exact, the close from 3/21. Indeed a close below there, again, could signal a retest of S levels below.

Yesterday d100 on adjusted SPY served as S. That would be the first down level I am watching. Right now at 260.75.

That said, I wouldn't be surprised to see SPY close higher from here near Upper BB, then have trouble tomorrow.