The market did what it was supposed to do today. It bounced off of its resistance levels and indices broke down from their immediate trading ranges. However, with the amount of accumulation that we have been watching at the top of the market range, we still believe there is no need to make too much of this market downturn yet. In fact, a pullback here that finds support at the 200-day average (Nasdaq at its 50-day) will give the market a much stronger base. If it were to break out without a pullback we would have been concerned that the market would be in danger of a much stronger reversal from exhaustion highs. This volatility gives the market some time to work off an overbought condition so that it will stay technically strong should it make a run higher