PPT has never stepped away. read my posts in the past couple weeks, and past couple years for that matter... the smart money cannot carry the dumb to heaven. shakes like this are necessary.... it's all part of the plan.
While not insignificant, we're only down 20% from ATH, which ain't worth Uncle Sam to lose sleep over. You'll need to wait until there's some sort of gigantic panic, like Lehaman and Bear Stearns collapse before the PPT kicks into full gear. That should be the cue to reverse position.