Interesting facts/information from Jeff Saut, the excellent market strategist at Raymond James who discussed how long selloffs like the one we are going through can typically last. Here is what Jeff says courtesy of Barry's site:

"Like 'buying stampedes,' selling-stampedes typically last 17 - 25 sessions, with only 1 - 3 session counter-trend moves (rallies/pauses), before they exhaust themselves on the downside.

More often than not that downside exhaustion is punctuated with an 'I think I am going to be sick' downside hour or two. It is also worth noting that once you get into one of these downside-skeins, if said stampede surrenders more than 5%, then the waterfall-decline tends to extend into a 10% or greater decline."

I don't know about anyone else but yesterday afternoon's straight down selloff taking the SP futures down from +7 in the morning to -10 in the afternoon caused me a little queasiness.

However, my count beginning with May 11 as day one of this selloff puts us in day twenty, so hopefully by the middle of next week or sooner we will be back on the way up.