U.S. stock lower in pre-market trading for,July 22.The Nasdaq Futures is trading at 10,865.80 up with +0.14% percent or +14.75 point.The Dow Futures is trading at 26,674.00 with a loss of -0.19% percent or -52.00 point.The S&P 500 Futures is trading at 3,248.88 with a loss of -0.07% percent or -2.37 point.

In other parts of world, Japan’s Nikkei 225 is trading at at 22,751.61 with a loss of –0.58% percent or –132.61 point. Hong Kong’s Hang Seng is trading at 25,118.28 with a loss of –2.02% percent or –517.38  point. China’s Shanghai  Composite is trading at 3,333.16 up with +0.37% percent or +12.27 point. India’s BSE Sensex is trading at 37,772.33  with a loss of -0.42% percent or –158.00   point at 12:15 PM.Germany’s DAX is trading at 13,123.94  with a loss of –0.36% percent or -7.89 point. France’s CAC 40 is trading at 5,044.74 with a loss of –1.17% percent or –59.54 point. The Stoxx Europe 600 is trading at 373.30 with a loss of -0.90% percent or –3.40 point.

Wednesday’s Factors and Events

This SPY ETF Weekly chart highlights the similar Double-Top pattern that has setup further indicates strong resistance near $322 – which aligns with the original Fibonacci Bearish Trigger Level from the February peak levels (the solid RED line). The Double-Top setup near the Fibonacci Bearish Trigger level suggests a very strong resistance level that exists near $322. It is our opinion that this Double-Top setup near strong resistance will likely push the SPY into a downside price trend targeting $300 or lower.

Tuesday Activity

For the day The Nasdaq Composite is trading at 10,680.36 with a loss of -0.81% percent or -86.73 point.the Dow is trading at 26,840.40  up with +0.60% percent or +159.53 point. The S&P 500 is trading at 3,257.30 up with +0.17% percent or +5.46 point.

Other leading market index closes included the small-cap Russell 2000 Index closed at 1,487.51  up with +1.33% percent or +19.56 point; the S&P 600 Small-Cap Index closed at 859.38  up with  +2.08% percent or +17.51 point; the S&P 400 Mid-Cap Index closed at 1,848.37  up with +1.24% percent or +22.70 point; the S&P 100 Index closed at 1,502.961 with a loss of –0.076% percent or  -1.15  point; the Russell 3000 Index closed at 1,902.50 up with +0.18% percent or +3.47 point; the Russell 1000 Index closed at 1,808.03 up with +0.11% or  +2.07 point.