My models, based on analysis of daily market data beginning in 1968, suggest that when the market falls like this, it has its own momentum. All of the MathematicalAnalysis.com models, which have significantly outperformed the market over the entire period for which the analyses have been run (since 1968) advise traders only to stand aside and let the decline continue until it stops. As to what day the decline will stop, the models offer no information. Once a decline like this begins, the average next day performance since 1968 is a further decline.
fuzzymath@MathematicalAnalysis.com