$SPDR S&P 500 ETF Trust(SPY)$  is likely headed for correction. $FTSE 100(.UKX.UK)$   is a leading indicator of $S&P 500(.SPX)$ . you can look at the chart of spx candlestick compared with ukx orange line. ukx made a new high long before spx made a new high. ukx is on a downtrend after making a new high. spx will follow ukx's trend until ukx decides to change trend. 

spy is likely to retrace to around 398 where the up trend support line is. 

if you examine the$US2Y(US2Y.BOND)$  , you can observe that it is at resistance zone. inflation is still hot and the fed's message to tame inflation is very clear. they might hold interest rate or even raise interest rate if oil prices continue to hover above 80. 

do apply automatic investment system where you add shares at each 10% drop or at support zones if you know technical analysis. this way you conserve your capital while the stock is strongly downtrending. do take profit at 10% intervals or at resistance zones if you know technical analysis. this way you have capital to buy the dip. only applies to stocks in an index or warren buffett would approve. bon courage.

merci beaucoup @Asphen   and@JinHan   for sharing your analysis. 

merci beaucoup@TigerWire   for your reminder of new topics and @TigerStars   for reviewing our posts.