judging from the way equity market is trading, the price action is still more characteristic of a short-term overbought consolidation rather than a beginning of a new down-leg. This, in fact, is pretty encouraging because after the massive back-to-back rally, a healthy consolidation would give the market the needed time to establish a strong footing. Additionally, the long-term trend remains bullish so it seems to us that this correction is a good opportunity for investors to get back into the market or to rebalance their portfolios.
