I was asked to analyze the SPY. The ETF made a new low today and it won't be the last one, that's for sure. You really have to look at 5 and 10-year charts to see where the SPY really is and how much further down the ETF possibly has to go. THe sPY has some support at this current 110 level, butI doubt it will hold for long.

In this article I perform technical analysis of SPY. Moreover, I analyze an options strategy which will suit to the current situation.