The weekly oscillator for SPY (etf for S&P500) is trending downwards. This indicates that S&P500 prices will correct (go down) or base (go sideways) for a few weeks.
Once the oscillator reaches the bottom or starts to trend up before reaching the bottom, we can evaluate the status of the market movement. At that point we can know if we are still in a primary uptrend or the market trend is changing based on the price pattern of the market.
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