As of now for the first time in months the 65 days bullish to bearish ratio has flipped. You can see the amount of damage just few days of selling has done to market leadership.
But there is still lot of bullishness. You want to see less than 39 (now 45) figure on the 4% bullish side. You don't want stocks like AAPL holding on to their gain. You want to see a complete sea of red on the tape with less than 10 stocks up 4% plus. But we are getting there. This is good action. This will lead to good tradable rally in near future. The problem is most will be shit scared by then and probably miss it.
Later: Look for new leadership after the carnage