I have a book about the history of JP Morgan. And the chapter starting in 1981 is titled :The casino years. When they deregulated banking, starting in 1981, we have had a S&L crises, and almost a world wide banking collapse in 2008. Who needs govt regulations? Yes, they can be horrible at times, stupid and wasteful most of the time, but they prevent total theft some of the time.
Patter still suggests down into early next week, then another insane rally, how high depending on how this small correction progresses.