S&P 500 breaks below March trading channel support

Updated
Over the last day or so the S&P has broken below the March trading channel support. I have seen the same in the NASDAQ a few days ago. This would lead me to believe that a correction in the S&P is on tap in the next week or so.
Note
End of day update
snapshot
DJINASDAQ 100 CFDSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend AnalysisWave Analysis

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