That didn't last long..

The post mid term election rally - just fizzled out.  Where to now? Looks like we consolidated the initial move down with a 6-8 day rally (depending on the market you look at), and now markets are in the next leg down...

1. will this be a 3rd wave down?(longest and strongest)
2 is this still correcting the trend up since  2008

As seen from the chart above - monthly DOW - the rally from 2008 to 2018 was huge roughly 20,000 points.  It is not inconceivable to correct to FIB levels...we are close to 23.8  and on the chart the blue shaded area is the 38.2 % level...19200 (approx).

I like looking at the long term as it cuts out the daily "noise".

Talking heads (CNBC) still talking about how it's right to buy the market here..gut feeling is that they will be proved wrong... in the short to medium term..

Obviously it all depends on the time frame one is looking at.

DOW weekly shows the 2 week bear flag - measurement suggests minimum 23200 as a target as indicated on the chart.