As I warned several times, market had an extreme overheated status for last Friday.
It was almost sure a correction will happen. What is a warning sign is the strength of the correction.
Following chart shows market situation, safety zone, danger zone and liquidation limit.
As it can be seen, almost all of the short-term indicatiors suggest a bounce.
Almost all critical indicators show bullish signal, except on a rising selling volume signal. That gives a caution signal. Usually selling volume signal is flat zero in clear bull markets.
30 min volume analysis shows very slow selling volume elimination and selling volume elimination.
Close watch is necessary with a good chance of slow bullish change.