What Size Market Pullback Would You Like?

I reckon bears will have them some of the bigguns. 

Today's market action was much more typical of a corrective tape, with cocky bulls early on cheering the morning bounce, followed by some abrupt selling in the afternoon and a fairly soft close. 

Bears still have plenty of work ahead of them, though, such as cracking IWM below $134 and seeing those small cap stocks break down with authority. 

But for now, the market consolidation continues. 

Also note FDX giving up its earning gains, and then some. FDX's peer, UPS, remains a weak chart which I am betting breaks down further.