As I suggested mid week last week may offer a buying opportunity. Mid to late week sold off and depending on what stocks you were watching provided an opening to make a buy. I had bought 4 stocks on Thursday and put in "sell gtc orders before market open." Now need to find something to buy (only 1 position left).
Like I have stated in the past shorter cycles can provide larger per cent movement in a shorter period. For example a 50 point movement of the SP500 in 5 days is an average of 10 points a day, whereas over 10 days that 50 point movement is 5 points a day.
This is why shorter cycles (like the 10 week cycle) can have an over size short term impact down /up even when multiple longer cycles are moving the opposite direction (as we saw the latter part of the last week).
Here is the new week (updated):