Even with this latest correction on the SOX we currently remain above the uptrend line for the SOX: stockcharts.com/c-sc/sc?s=$SOX&p=W&yr=5&mn=0&dy=0&i=p65348758892&a=189148759&r=2682 Unfortunately the same cannot be said the the Industrials: stockcharts.com/c-sc/sc?s=$INDU&p=M&yr=3&mn=0&dy=0&i=p51596009585&a=130753217&r=3507 All the major averages are approaching a 30 RSI(14) which is very short term oversold on the daily charts. RtS