SPY

Off lately everyone has been talking about major market correction. The SPYDER have been on a run and does not want to stop. I agree that SPY needs a correction but I think the correction will be a modest one. Looking at the monthly chart of SPY with Fibonnaci Retracement for the previous run (from 2003 to 2008) it seems like SPY wants to touch the magic number of 161.8% which is around 207.68. Also looking at the time frame it seems like the correction will occur around the months of late November to December of 2014. Until then the bull run continues.