Pete Worden spells it out pretty clearly....
S&P 500 (SPY) Video Alert
I just finished this 5-minute video that takes you through daily and hourly charts of the SPY using MACD and Time Segmented Volume (TSV).
You can watch it now at FreeStockCharts.com. I believe the stock market has indeed entered into a full-fledged correction, which is likely to retrace a sizable portion of the advance from the March lows. However, I also believe the current bounce has more room left on the upside before the profit-taking once again begins. I explain in my video.
CFRN Weekly ES Chart
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