The first leg of the correction looks to have concluded today.
While a retest of the lows we saw today is possible, the next move of substance should be up.
Look for heavy resistance to come in at the 1510 area on the S&P 500.
Don't get me wrong here, I am not covering my hedge I have put in place.
I still believe there is more to come on the downside, but short term sentiment is telling
us that this first move down is just about over.