yes probably. But I think below 5000 points there will be some buyers and below 4900 points when then SP500 hit -20% drawdown from Alltimehighs then BIG Marketplayers will enter buying for sure. That is my best guess. Just read that hedge funds are at the highest short level since over 9 years. If so many shorts are right now in the markets...
That's one thing that will be interesting is the amount of shorts people have on...its become very one sided which is why I think the short term bounce is Tuesday
At least there should be good volatility in the markets as recently shown. So if the markets does not tank down 300 points in the SP500, it should be good for a rebound. Say 120 points down and 250 points up and then we will see how it closes on Monday. If Monday is not positive then chances for Tuesday are even higher according to many decades of statistics. We do not know it for sure, that is certain.