The opposite scenario could also materialize: if it does not go lower then it will bounce, or might stay the same. As to the bounce strength, we should consider two options here: either it will exceed 11.65 points or bounce by a lesser amount. In the former case, some profit taking could take place, albeight only temporary.
Next week the S%P will be down 5%...but the Fed will NOT ease A 5% fall next week will only in the S&P will only bring us back to just shy of where we were in February will it not? Big deal!
I see three possibilities for Monday: 1. Dow will go up less than 100 points. 2. Dow will go down less than 100 points. 3. Dow will go down more than 100 points. In other words, there's a moderate chance for consolidation and taking a breath, but also a significant chance for a further major break downward. I feel there's little chance of any kind of bullish heartening rebound.