It'll be interesting to see if the market just gives back its gains like on May 11th and 13th or if this time we can form a higher low and then rally from there to much higher levels.
If the rally from 1319 to 1347 was the start of a new big move up then this correction should bottom somewhere around 1333 +/- a few handles.
From there we should start moving up again and then break the blue downtrend line and eventually make a new yearly high.
