Could this be the beginning of the Bearish Trend? It very much looks like it could be, but not yet, we still have to go through few more dip downs, and market needs to go down more than 20% for it to be a Bear Trend.
It would be a good idea to read up on what to do and how to trade when Bear Trend starts.
Gaps sometimes get filled, so if we see an up movement to fill in the gap then the market is recovering. But, if it’s a runaway gap, then it will be a red flag and we need to change our strategies.
All major indexes are down NDX, RUT, SPX, SPY which is what I use to monitor market. They are still above their major support line, but who knows what’s going to happen. It all depends on how panicked the people are.
Don’t make decisions that you will regret later.