The market was due for some sort of correction after a 5 week rally. So this was not a surprise.
The Chinese speculative stocks were making big moves and such moves tend to happen before corrections or at top.
Earnings season is on and we will still get 10 to 20 big moves on individual stocks post earnings.
Not all sectors will correct at same time and so one will have to watch for new sector leadership. The shipping stocks were breaking out today. EGLE and DRYS look good in that sector. Hospital stocks were breaking out. Some medical stocks were breaking out. Some oil and gas stocks were attracting buy interest.
The gold stocks look like , they will start rallying from here. The sector is still in top 3 sectors (by IBD sector ranking) and most of the stocks in that sector look like having orderly pullback. ABX, NEM, GG, AEM, AUY, and AU amongst large gold stocks look ready to ho higher to me. Some of the silver stocks also look like ready to rally.