There’s no telling how this current pullback will play out, however, we should take away the fact that this is a a time and place to be more cautious with our trading. Not until the corrective action has run its course and buyers regain control back above the 50-day ma, should our confidence level grow. The S&P held the 100 day moving avg, today , but closed below the 50 day. It will be a good first step for us to get a solid close above the 50 day.