Today the market hit the bulls hard as selling pressure violently accelerated. This appears to be a challenging moment for my indicators. I've been waiting for this scenario for a while. My basic philosophy is to monitor Elliot Wave for my long term market signals and to use RUM Wave to identify short to medium term entry points. Currently, my favorite EW-ers are calling a potential primary wave III top. To put it in more common terms, a primary wave III top will signal the start of a 2-3 month decline. Primary wave II took the market down over 20% before it was over; primary IV will likely be similar. The question everyone has is, are we there yet? My signals are just about as bullish as they get, so a failure to recover starting tomorrow would have me believe that primary III is complete. In fact, if we were somewhere else in the Elliot Wave pattern I would be calling this a screaming "buy" point. Protective orders on any remaining long positions are a worthy option.