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SPY / SPX at an inflection point

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SPDR S&P 500 ETF TRUST (AMEX:SPY)  
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AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators SPDR S&P 500 ETF (SPY) SPX (S&P 500 Index) trader QQQ IWM DXY yields
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The S&P500 is on the verge of breaking down very hard.

If we reject at the neckline tomorrow that is bearish.

If we close above the neckline it is bullish.

Either way a big move should occur once we know where we close.

After a hotter than expected CPI, tomorrows PPI will be telling.

If we get a hot PPI and hot Initial Jobless claims number expect markets to sell off.
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