It was very systematic, slow motion sell off. It never looked panicky. In panicky sell off you see waves and waves of selling. So there is blood , but not enough.
Lot of talk about 9/11 sell off comparison. In that case after 4-5 days of selling, there was a spectacular bounce lasting months. So if selling persists for another 3-4 days it will be very bullish. I am beginning to turn a bit bullish and looking to deploy cash if there is more blood.
Tomorrow is Fed meeting day so expect lot of volatility.