SPX: The correction has started

SP:SPX   S&P 500 Index
Market was waiting for a signal in order to start a correction phase and this has started. US statistics are not good. GDP's 2Q14 is not good as forseen, and frankly you cannot justify this with the weather problem or the cold.
However bare in mind that there is still plenty of cheap money in the market. FEd, ECB, BoJ. Therefore it is still just an only a correction towards 1840-1820. Eventually towards 1780. Further down would mean a reversal... And it would go rather quickly bellow 1620. But yet, we are not in that situation. It looks as if it was just a classical correction

Oops bulls on rampage up until 2100++. We know 1 direction: up. That's it. Until then, more bear pains lol.
Unfortunately, some Index are not real time like SPX DOWI and we cannot do an analysis on a 4H or 1H. But if you have a look to my previous studies as well, this is my trading plan and the indicators show that there will be a correction as I have mentioned in the past days and weeks.
This chart is not up to date. Yesterdays quote.
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