This action is not looking too convincing to me for the bull case. There has been a bounce off of the lows from last week, and momentum has died here. If the herd of bulls were actually buying this dip, we would be trading higher and have good momentum. What I see is bulls still holding, telling everyone else to buy this dip, wishing it higher. This bounce looks weak now in my opinion, leading me to believe that we are finally entering into the long overdue >10% correction that this market has missed.