Running discussion on SP, page-4919

I think it depends on perspectives. Depending on where you stand, 6 and 9 may be valid answers to what one sees.
Have you noticed that even though you got the bounce calls right, the SP ended up making lower highs and lower lows? This is the different interpretation of the SP chart some of us have. A bottom is imminent but no one knows when or what the "lower low" will be. It remains an unknown.
However, individual response to this chart will vary depending on the profile of the holders. A long termer may keep buying at intervals but traders will definitely be selling as stop losses are triggered or if the funds deployed were short term capital/credits. As other posters alluded, there will be varying reasons to sell.
If you have cash you won't be needing any time soon, I'd say it's worth taking a dip and waiting patiently. Stop checking daily prices so you don't go on an emotinal roller coaster. Traders should probably wait for a reversal with high volumes before buying again.

My 2 cents. DYOR