The last 4 months SPY has bottomed out at the tail end of the 3rd week of each month (6/18, 7/19, 8/19, 9/17) before rebounding and repeating. Let's keep an eye on this to see 1.) if the rebound starts next week and 2.) if it bottoms out roughly 20 business later (end of 3rd week of Oct or beginning of 4th week). Notice there are 5 Fridays in the month of July and SPY bottomed on the follow Monday being 7/19. October has 5 Fridays too so let's look for the same pattern.