There is a lot of fear out there this morning and we are testing the years lows. Combined with the oversold nature of the market and the built up pessimism that would typically be an ingredient for at least some sort of bounce. While the odds favor the upside this market has shown tremendous momentum to both the upside and downside so it would not be that surprising if we continued lower.
The economy and market are both unhealthy. Without government intervention both would be massively lower and you can only fool the market for so long. However, that did not stop the market from rallying 80%. I believe this experiment will end in tears but the question is how we get there.