Will SPY break to the upside or correct?

Will the SPY break to the upside, or will it regress to the mean after the black swan event? It is healthy that investors are taking some profits, and a decent strategy doing so right before earnings. The economy next phase will have a high correlation to not only the stock market but the domestic economy as a whole. As indicated by the pitchfork, the SPY does have some room to correct and maintain course and still be on a healthy trajectory. Earnings will be a major factor if this engine can steam-roll into the next year without any pandemics in the near future. Some castle-in-the-sky expectations in the biotech sector may need to be readjusted with more intrinsic values based on valuations in some sectors, which will be a healthy correction rather than a bear market. Services and technology have been able to allow the economy to function and will play a larger role in the world economy.