Panic is here and needed to be taken in advantage. Yesterday the sell off was combined with a panic and when this happens, usually the prudent way to act is to wait till close ( or all longs players are dead) and then to re-evaluate the position. As it looks , we will need some patience.
The market in similar situation in the past ,bounced several percents from this levels but it may do a new lows. All breadth suggesting a correction. I will evaluate today activity as If I would see a good exit point -a post will be published . It's better to exit in reasonable loss than to bite leaps for more than a week.
Look at NYSE new lows reaches the 700 area. As you can see it is a major bounce area.
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