Monthly SPX chart shows we have been moving parabolic since 1994 (prior to this we were on a steady in my opinion more reasonable rise). The parabolic moves up and down seem to last between 4-6 years. We are currently 5 years into the current bull run, approaching the upper limits of the channel. The MACD looks like it wants to cross. Fib levels and the bottom of the channel show if this is a real long term correction, that we have a long ways to go down. All speculative as I feel charting indexes with out fundamentals taken into account is not wise....