Dear all, After 109 trading days, S&P500 finally staged a 1% drop on 21 Mar 2017. Is this the start of a correction? Let’s take a look at the charts. S&P500 Just to recap what I have mentioned on 10 Mar 2017 (see HERE), I wrote “All the EMAs are rising steadily. Since 8 Nov 2016, S&P500 has not traded below its 20D EMA for more than one trading session. Amid positively placed directional indicators (“DIs”), ADX has risen from 34 on 24 Feb 2017 to 38 on 10 Mar 2017, indicative of a trend. RSI has weakened from an overbought region of 80 on 24 Feb 2017 to 65 on 10 Mar 2017. OBV is still at an elevated area. From the chart, S&P500 continues to be entrenched in an uptrend. A sustained break below its rising 20D EMA (currently around 2,357) will be a tad bearish ......