RE:Why Did this Drop Happen and How Bad is it vs 2014Panic sells - It will all depend on where the market closes at the end of the week, more importantly at the end of the month and before a directional change - the end of the year. The good news is that usually the market will take the opposite side to the directional change and since we are at lows, the market should go the other way. We paused at 576 now heading to 618 and possibly lower - we may go past the low needed for bearish market but again all depends where it closes. I will give my opinions at the end of the week and what we should be looking at towards the end of the month. It is obviously going to be real choppy in here with panics in both directions.
The key level is what I posted in my previous posts we need to watch for - again that is for year end closing so about 6 weeks away.