With all this noise I am here to simplify things as shown by my chart. I have included a chart below which really shows what is going on. As you can see the SPDR S&P 500 Trust (NYSEARCA:SPY) is really just trading in a downsloping trend channel. At first glance it looks as if the market might be breaking out of this channel, however, I wouldn't quite sound the all clear just yet as these channels can pierce. I will be watching this pattern and when I see a decisive break above, that will be my signal that this correction is indeed over and that markets will proceed higher. So forget that head spinning noise you keep hearing from the financial media and look to this simple chart pattern for the real guidance.
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