That was another 3% correction, nothing more. What does confuse me is we did not drop to the lower trend line at 1535, which is also the gap from March 3rd.
Still very bullish pattern, amazing. Gold and commodities signaling economy is not doing well, but market is all about the fed pumping, nothing more.
BTW, when you see us down 8% in a day, then you can start talking about doom and gloom. I suspect we see that by October.