The recent selling activity in the market has some investors wondering whether this is the big correction many have been waiting for. Mark Newton, Chief Market Technician for Greywolf Equities, believes the pullback will be short-lived and will probably bottom out next week. However, if the S&P 500 dipped down to 1765, near December lows, that would be the sign of a normal correction. However, Newton doesn't think that will happen.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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