Today the NASDAQ breached the low of the Follow-Through Day that started the most recent uptrend on 3/5. The low for that day was 3200.28, and today's low was 3186.08. However, the market closed slightly above the 3200.28 mark today. Does this mean that TECHNICALLY, the market is now in a correction, or do we need to see the market actually close below the low of the FTD that started the latest uptrend? Since the index also breached the low of the FTD on 4/5 but closed above it, I guess that the market would have to close below the mark to technically qualify as a correction.

     Given the pile-up of distribution days (today marks 9 for the NASDAQ), plus the lousy technical action today, I'm inclined to call today the start of the correction.