I expect people will react as they normally do and respond to...

I expect people will react as they normally do and respond to emotions like fear and greed. A lot of it is basic market psychology as you have to be in to win, but if you are too much in you might lose your hat.
So it's a dollar on or a dollar out, or a glass half full or a glass half empty. Some people might take a profit if they bought low enough and others will sell half in a sort of fence sitting strategy. Never second guess Mr. Market, as Mr. Market is made up of many people, all with different temperaments and risk profiles.