Exactly. The last few days looked exactly like a market top, with an explosive run up over a couple days. Some “bad news” (still not sure why anything the Fed said was actually bad news for stocks) accelerated what was an inevitable pullback.
The question is whether they got it all out in one day, or if we’ll see some more pullback next week.
Personally, I’m smarting from a stupid move I made trying to catch a falling knife on an oil stock in the morning then getting stopped out in the afternoon. I really need to stick to my day job.
To use another metaphor, yesterday’s crash created a wall of fear that will be perilous to climb, and would make it easy to scare away small investors. I would guess that a continued pullback would be the more likely outcome next week. I’m no prophet, though, and I’d be very pleased for that prediction to be wrong.