This chart shows current short term trend over last week. The median price is central rising red line which prices respect. It was disrespected 3 times today, usually this means any challenge fails and moves other way. Indicator at bottom is Fisher MTF indicating money flows. Not shown is 50 day MA at 208.90, wont fit on 1 min chart. This is just a short term trend, medium trend cycle overlaps this chart(not shown) but its median is at approx 207.90 and was also disrespected so is due for a retest. I expect this to be near bottom before bullish move up. This is not a correction, merely a cyclical refresh of SPY with money moving from Retail to Pro's