In last two months we could se nice correction relations in downtrend. Three simmilar corrections before strong swings (green rectangles), and lately two same sized corrections (red squares) - last one has additionaly ended at 23,6% of whole move and 78,6% of last impulse. Some says that todays down movement was cause of Cyprus.. I say that cause of market geometry and overbalance rule.
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DanV
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I agree with your observation and still feel there is some more downside before meaningful bottom forms from which more significant retracement to the upside develop or new up trend. I have published my views on why I think we will develop new up trend upon completion of the current down trend as correction of move from July low to Feb high. Here is link to my chart - tradingview.com/v/ZBJwyeWI/