such stampedes tend to last 17 to 25 sessions, with only one- to three-session counter-trend rallies, before they exhaust themselves on the downside
Is This A "Selling Stampede"
There are two possibilities for the current market. The first is that we have bottomed or that we put in a bottom in the next couple of days and then have a typical 10 day rally that lasts into option expiration. Of course that does not mean it would be straight up. The second is that we are in the midst of a "selling stampede". Jeff Saut of Raymond James has coined the term "selling stampede". According to Jeff Saut: