Risk most likely topped for a while.
Below is an hourly chart of XLF, the financial ETF. We have likely finished the third wave of the very first (of many) impulses down. I believe that mid-August lows (labeled "4" on the chart) will provide several days' of support, and meaningful bounces. For most broader averages, those levels are about 2-2.5% lower.
Bring it on!
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