With news lows being made today as we write, one of our gaps was filled by the latest plunge in the SPY.

The chart below shows a key support level below highlighted by the yellow oval. That’s where a Fib level and flat line support along with angular support suggest that buyers should attempt to step in.  That would also be a 61.8% retracement as we chart it, which is a key Fib retracement in anyone’s book.

If anyone decided to trade bearish name PFE from last week, a target level would be approximately $42.75.

As of this writing, SYY has traded down to just about 10c above our first target level. The next target level down is near $68.02 if the stocks continues to weaken.

If this selloff starts to go full-fledged panic, OKTA’s next level down would be just above $49.00 which is quite a bit lower than where it is currently.