According to Prechter & Company this next leg down is wave 5 aka. the Re-test. Overthrow. Rally.
Nasdaq 100 with 200 day moving average
Daneric has the same count as me (3rd wave), using the Wilshire 5000 total market index:
Financials are locus of risk ex-non rate hike. During the August Flash Crash they lost 30% at the open. Today, they got sold hard after the Fed non-decision...