I think it will build momentum on the downside and I also see 5% to 10% downside from here. I really wish I'm wrong but I don't think I am. I've been around a long time and saw this happen over and over.
There were too many people calling for a correction for a correction to actually happen. In essence the consensus among market participants was that the consensus was overly bullish, even though no such bullish consensus existed. Welcome to capital markets.
I'm not a short. Never did never will. I am holding JNJ but see a strong sell on MOST of the marker. You ignorant people always assume that when someone speaks like I do that I'm a basher. I'm not. Just hold your other junk and you'll have a much bigger loss than 10%