
Bulls will need more than one day of selling before they can get excited to buy. Any buying dip will take a number of weeks to play out.
As a sidenote, volatility is approaching rising support from 2006 but there is still a few points to lose (and for markets to gain) before it gets there.

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.