eurusd and oil are together, and others are calling for eurusd to break through its support low (black line) rather than double bottom and bounce. That would mean oil down, dollar (DXY) up, and SPY has a rounded top forming, and might well follow oil down, with the oil sector dragging it there (countering whatever little and short lived economic stimulus lower gas pump prices might give us) . I've noticed that at the first sign of an oil bounce, pump prices will absolutely soar. If Oil falls heard, might just break through this long trend double bottom, or bounce really hard, giving the oil bulls the true next leg up. The TRUTH is in here somewhere, but you have to squint. Just posting one scenario, where the SPY correction could happen, and give the bears what they've been calling for for some time now. If oil does NOT double bottom, then correction for the markets it is, always IMO.