the charts were saying: 4200 = bottom to follow last 10 years up trend but since we had a rush to 6700 then 6700 - 62% of (6700 - 4200)is around 5000 - we hit it.
So now we can see DOW has spent past few weeks already mucking around the 11200 and XJO around 5000...
Conclusion: Would it be time for: 1. accumulation 2. Rebound
If we had to go further down the uS would have put the rockets in our bottoms with destination: bottom hell = 4500 - 4200 (if it had to happen!!).