The coming correction could go as low, or possibly lower though this is highly unlikely, as half of the advance from winter of 2009, or as short as 14.4% of the entire move from that time. Either way it's spring time in the forest of fractal behavioral finance and the bear is waking.
I will be selling long term indice futures at the price level reached early tomorrow morning, as I believe a very minor bull correction will occur overnight before another leg down occurs tomorrow. Over the next week the market will likely retrace back to to today's mid and lows, but it will be a temporary fake out and a strong bear slide will ensue after.
Because this move is a correction, it will likely have lots of overlapping price movement as it progresses. From a long term Dow cycle view, I think it's a hold. Short term trade view is sell.
Please see these associated charts which span intermediate to below sub-micro fractal degrees:
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| (1-1) |
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| (1-2) |
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| (1-3) |




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