Well, my analysis showed that the market would decline but I didn't think that it would be this bad. What I did was draw a long-term trend channel and prices reached the top of the channel. Personally, I thought that the ES (for instance) would fall to 2700 before rebounding but the price fall took out the bottom of the channel. I even expected a period of consolidation before any weakness but the market sold off almost immediately. So, I wouldn't say that my technicals predicted the huge selloff but it did indicate weakness in the near future. Going from history, whenever any of the indexes reached the top of a channel, there would be weakness but nothing major.
Speaking of today, the answer is yes. I have been saying that we would visit the low of Sunday night and today we did. It is simply the chart pattern of a quick meltdown, after a decent bounce price goes back to the previous low. It also happened after the Flash Crash.
%% Good points; but op needs to learn markets are not really about prediction. He could start with a 200 day moving average. But like IBD[Investors Business Daily ]noted ,easy to manipulate 30 stocks /DOW, DIA. No wonder SPY/S& P 500 is the main benchmark. NOT a prediction ;some do forecast weather but no one calls it weather prediction. Good question, salty.