The recent correction that affected the US stock market is likely over for the time being, the weekly uptrend can resume here, but, consider that we are still during a longer term consolidation phase, following the end of a 2-month timeframe uptrend expiration back in December. The big correction we had after peaking in February further confirms the idea that one pattern was completed, and a cool down phase is likely to materialize, as is clear that is happening now. I suppose we might see a mostly bullish trend until mid term election fears surface.
Best of luck,
Ivan Labrie.
Disclaimer: I'm not long SPY myself, but instead hold a portfolio of individual stocks that offer considerably higher returns than the index potentially.
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So far so good, check out the last publication for more updates.