So far indexes have corrected around 3%

So far indexes have corrected around 5%. The Russell is the only one to correct 5% plus. Others are in 3% range.

Selling has not been heavy. We have had only one 400 plus breadth day to downside  so far.

So is this a correction in primary uptrend or start of big down move?

Underlying stock setups continue to show sideways move on lot of stock.

Unless heavy selling changes that this might prove to be a 7 to 10% correction.

The European trouble is wild card and can lead to panics like we saw last year.