Today's selloff has us at the August VO lows. Near term support is at -70.69, weakness going into the weekend could result in a larger selloff.
For the long term investor looking for value after this selloff there are options. For a long term dividend play $DOV looks good at $80.67. Today's dip in Apple makes the Oct 18 $100 calls for $1.45 attractive.
Here we see the MFI at the mid channel. If it were near the bottom channel with the VO at the current level, we could expect a market rebound. This current level indicates a further retreat is possible.
While I am a long term bull on US equities, the S&P seems to have a difficult time getting over the 2,000 mark. Cash is king.