Europe down close to 2% across the board today, and $SPX down 0.43%. When the selling that we’re seeing at the beginning of the day happens at the end of the day then you should be prepared for a substantial bounce. But that’s not happening so for now you just have to take what you get.
With bottoming tails in all the majors today, then a bounce should be expected starting tomorrow. Bounce could last several days but I believe this bounce, should it materialize, will fail. Could be a trade in the move but you’ll have to be fast and attentive. In the meantime, watch for another Bear Flag type channel to form.