SPX: The correction has started

Market was waiting for a signal in order to start a correction phase and this has started. US statistics are not good. GDP's 2Q14 is not good as forseen, and frankly you cannot justify this with the weather problem or the cold.
However bare in mind that there is still plenty of cheap money in the market. FEd, ECB, BoJ. Therefore it is still just an only a correction towards 1840-1820. Eventually towards 1780. Further down would mean a reversal... And it would go rather quickly bellow 1620. But yet, we are not in that situation. It looks as if it was just a classical correction