Nice breakout so some chances it's a double bottom (green arrows) the low was in. However, more often, there's another small leg down before a bottom could be possible as illustrated by dashed blue lines $SPY $SPX $ES_F https://bbs.cobrasmarketview.com/viewtopic.php?p=328758#p328758
So as usual "more often" indeed happened. Since this is 3rd test the blue line, the more test the less likely the line would hold so breakdown should be more likely after which we'll see whether it's a classical breakdown then reversal up $SPY $SPX $ES_F https://bbs.cobrasmarketview.com/viewtopic.php?p=328760#p328760