Beginning of the end of the current correction has started

The beginning of the end of the current correction has started. However the current market correction is not yet over.

The daily price chart for SPY (S&P500 ETF) is not showing convincingly that the correction is over.  We should wait a few days to make sure that the price pattern is not a “wedging” pattern.

The long term trend in both S&P500 and Russell2000 is still up. The medium term correction we are experiencing could be over soon. We just need to wait and watch the market. We can start to commit some money to the market (with very tight risk management), but wait to commit more fully till we get a clear sign that the correction is over.