SPDR S&P 500 (SPY)

[risk on]

That's just it, a correction certain on the monthly, could still see Feb fill 204 gap, heck even March could, but both months obviously would need to be back below 194 or so, in order to keep the correction. To me, that's the power of the 9 EMA fail. No matter where it goes during the month, we know where the minimum is it will be belie at the end of the month, as soon as the 9 EMA closes back over mid bb , then it's over.