Longer-term traders should start watching for an entry
Now, the major indices are re-testing the areas where they broke through supports. This is a likely area to watch for another leg of the correction to begin.
The gap down this morning in U.S. indices probably represents a minor low, and the market should be preparing for an upward retrace that could last a day or longer. In currencies, the Dollar rally is still strong, and the recent correction probably represents part of a small fourth wave that will precede a climb higher into late October or November.