ONe last thought: The 21dma is still rising, and all this decline has done is brought us back to the 21dma.
Pattern looks like we still have one more high before the big decline. Would not want to be shor tomorrow.
bottom line: Not much fear, but not much to be afraid of short term. Default by spain or something that big, and everything goes out the window.
for now, assume this is a bull rally, and the high 5dma trin and trin over 3 yesterday says go long young man, go long