SPY / $SPX / S&P500 - declining to 231-32 area soon !!!

SPY seems breaking of a Rising wedge in hourly frame. It also looks like an upward channel formation which is just broken down. Both Pattern suggest a decline around $231-32 area. This will confirm a downward break of Open range, and ensure a negative bias in the market until the next open range.

Please check back for Trade updates. (Note: Trade update is little delayed here.)