If today's morning rally ( currently up around 8 points) fizzles out and closes lower then a large downmove into year end will occur
This will be against the typical rally mode for this time of year aka Santa Claus rally
Target around 2500 1st stop
Interesting to note that Algos are buying to prevent a downmove greater than 1 percent intraday
If this breaks and 3 percent down is breached than a several standard deviation move could happen , all feeding on itself.
Volatility will definitely pick up as a first hint
No one would expect it now since everyone is sitting on nice gains for the year and will wait to sell to avoid taxes
Imagine a room holding 500 people and the only way out is a revolving door , if the need to get out quickly occurs it will not end pretty