Typical market behavior for a correction phase. Let's wait if the market price levels will be exceeded to the downside, only then this could turn into a bigger type of overall (weekly) correction. As of now higher timeframe breakouts were hit, a continous trend to the upside is still possible.
Note
Looks like SP500 will penetrate the support zone further, how far down will it go? Who knows.
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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.