If you are a bull, you need not worry just yet even with the multi week pullback. SPY is still above the downtrend line, with strong support at 390.
If you are a bear, you will definitely be cheering about the recent retreat by the market. You would want SPY to break below the downtrend line again.
Right now, bulls are still holding an edge over the bears. Just a slight edge…
$SPDR S&P 500 ETF(SPY.US)$ $S&P 500 Index(.SPX.US)$ $Invesco QQQ Trust(QQQ.US)$ $Tesla(TSLA.US)$ $Apple(AAPL.US)$ $NVIDIA(NVDA.US)$ $Microsoft(MSFT.US)$ $Alphabet-A(GOOGL.US)$ $SPDR Dow Jones Industrial Average Trust(DIA.US)$ $Dow Jones Industrial Average(.DJI.US)$ $Meta Platforms(META.US)$ $Amazon(AMZN.US)$ $USD(USDindex.FX)$ $Coca-Cola(KO.US)$ $Adobe(ADBE.US)$ $Netflix(NFLX.US)$