$SPY is likely setting up for a 20%+ correction from the highs.

219
The weekly chart has now overshot both a wedge and the upper parallel channel.
Based on historical probabilities, this pattern gives roughly a 75% chance of price moving to at least the opposite side of the channel sometime in the first half of 2026.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.