The Nasdaq composite sliced below Thursday’s lows which reset the day count for that index. Meanwhile, the Dow Jones Industrial Average just ended Day 3 of a new rally attempt which opens the window for a proper follow-through day to emerge. Elsewhere, as long last Tuesday’s lows (1040) are not breached in the S&P 500, the window remains open for a proper FTD to occur. However, if at anytime last Tuesday’s lows are breached in the S&P 500, then the day count will be reset. What does all of this mean for investors? Simple, the market remains in a correction which reiterates the importance of adopting a strong defense stance until a new rally is confirmed. Trade accordingly.