SPY - Still see a Market Correction in the near future.

Made this video to look at what I'm seeing in the market that has me a little on edge. Looking at the Weekly and Daily chart of the S&P. We can't continue to push the limits like we have for the past 5 years. Something has to give soon. The RSI is showing a broadening down trend for the past few years, with an uptrend support cutting through. This is creating a Pennant in the higher range of the RSI and it's not looking favorable to the upside, once the breakout occurs. The MACD confirms the uneasiness in the market, as it's drawing out to a torn flag in the wind. This shows a dispute in the market. BASL3, which may take affect on June 28th, could push price up, as this has a high potential to drive precious metals up. Only if the Dollar stays flat or dips a little.

Keep a close eye on the markets movement over the coming Months. I expect this week to be a red week for the S&P.

As always, hedge wisely and keep some money as buying power. It's always good to know that you're prepared for the rainy day.