SPY and S&P 500 Future in Descending Channel, Testing 200DMA (Charts)

$SPY (SPDRS S&P 500 ETF) and the S&P June future are trading in a steep descending channel, just below the 200 day moving average. The falling 20 day moving average could bump heads with traders soon (light blue line on second chart). High frequency traders need to team up and make things happen. Charts courtesy of Stockcharts.com and Optionsxpress.

SPY (S&P 500 SPDRs) ETF

SPM10, S&P June Future

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