To summarize, the U.S. equity market has experienced a significant amount of technical damage in the past month, but a near-term bounce is possible now that many indices sit above key support levels. A solid break below these key support levels (whether immediate or after a temporary rebound), however, would increase the probability of a market correction. The recent bearish signals can be negated if the market rises back above the key technical levels that were broken during the latest sell-off. http://www.forbes.com/sites/jessecolombo/2014/10/12/is-this-the-start-of-the-long-awaited-correction-or-something-even-worse/