Breached

Despite the post 2PM buying spree that reduced the damage dramatically, the plunge yesterday drove all the major indexes below the lows at the start of the rally attempt.

Therefore the rally attempt is dead.

When we got the 3rd day follow-through we noted that rallies often fail if the follow-through comes too early.  That was the case this time.

We're now in correction and looking for Day 1 of a new rally attempt.

Careful readers know that we started moving into the safe harbor of cash in late September.  Eventually we will put that cash back into the ETF Strategy but not yet.