this is what i see,...well a simplistic view that is,...
the market is multifaceted and controlled by institutions and they have been sellers!!!
the market is oversold here and there will be a reflex rally probably lasting 2 weeks or so and then a resumption of the downside (my guess) or it could just collapse here from the weight of fear and margin calls (remember hedge funds use margin heavily).
i'm playing with this in perspective,...a chess game,...
game on.
invest at your own risk, based on your own due diligence, at your own risk tolerance