A Little More Than Expected

Today's sharp selloff was more than would have been expected for a b wave pullback, but not outside the possibility for it.  Even so, a retest of the 8/9 low is the more likely outcome at this point.  But a retest of the 8/9 low would probably be a 5th wave down from the July 7 high completing an ABC correction.  So, a substantial rally should follow any retest.  The rally should last at least 2 to 3 weeks either way.

There are some positives as any retest would setup positive divergences in most indexes.  Patience is key during this time while waiting for the market to come to you with good setups.