Correction

Post-open Review... Don't even think about it.
 

Opening blip-up snaps back down into plunge.

Adding five names intraday ...

Last October when U.S.

The S&P 500 by all appearances should have performed well following the struggle and break above resistance from mid-February. That did not happen.
Corrections are supposed to correct bad, irrational and risky behavior. That didn't happen this time so perhaps the market is not out of the woods.
Wave 4 is a corrective leg so this can be only a temporary weakness but we still need three legs before we may start looking back to the highs again.
We are among the group that has called for a market correction for some time. The global markets reacted after the Chinese reports of contraction. Other factors governing the activity are the U.S. economy, corporate earnings, the labor situation, and of course the ongoing European debt crisis.
Spot market gold prices fell to a two-year low below $1,400 an ounce Monday morning, extending Friday's drop that took gold into bear market territory under the definition of a 20% fall from its peak.
The S&P 500 has been in a very tight uptrend
It’s been an interesting year technically for the equity indexes.