Keep things simple imo. I'll worry if DOW strongly breaches 200d wma (9887 at moment). Otherwise, this is a pull back (granted the speed of retracement is greater than previous) but so far I see similar chart set up to the Jun/Jul 09 pull back before the market shot off again.
There's always plenty of macro threats that more often than not are mitigated by other offsets. China is managing it's outcome, it will not allow a collapse.
