Recent corrections have been one and done but that does not make buying today a low risk trade. The market has the potential to become oversold in the short term and intermediate term even though neither has occurred recently. Ideally both would occur for a low risk entry point.
Next week is the turn of the month, which has a positive bias. If we were to get some more downside through the end of this week we would not be oversold in the short or intermediate term but the setup would look a lot better to me than it does right now.