Looks Like a Downtrend

Don't want to put too much weight on one day but it was a whopper of a day.  We haven't had this kind of all out selling in a very long time.  It looks as if this is day one of the continuation of the selloff.  The final part of the down move is always the sharpest.  So this downtrend looks quite mature.  I'm expecting a few more days of weakness and a likely break of 1300, down to 1295, the low in April.  That area should stem the bleeding and should be a good buying zone.