Despite the fact the selloff feels pretty bad over the last two days, all that's happened is the SP500 has returned to the median line of the current rally. The sharpness of the decline could indicate that more selling is to come, but not necessarily. After such a huge October advance a sharp pullback would certainly be an expected outcome. As long as the current pullback only results in a retest of today's low, then the rally should remain intact. On the other hand, failure at the median line would mean trouble. Note that the 50ma is rising into the pullback.
I was stopped out to two positions today. I will wait for the dust to settle before looking to replace them.