The SPDR S&P 500 ETF Trust (SPY) is experiencing a downward price trend, trading at $747.86 with a daily decline of 0.53% and an overnight drop of 0.40%. Despite a previous prediction that the asset had reached a "bottom" following a flush of overleveraged retail investors, the author notes that SPY continues to crash. The provided chart illustrates a sharp intraday decline for the S&P 500 tracking fund.