The zombies are being lowered into the abyss by Wall Street psychopaths telling them "it's too late to sell, you'll miss out on all the gains"
Unfortunately, when everyone believes the same thing, it won't happen. Major sell-offs only end with capitulation. There needs to be sufficient panic and volume to flush out the weak hands and pull new capital into the market. Capital not impaired by overhead losses.
Gap up openings that get faded like the one on Friday, prolong the agony while the zombies get buried in broad daylight with CNBS dunces babbling incoherently in the background.
The first ever vertical collapse from all time highs...
Volume:
TRIN: Selling intensity
VIX "fear gauge": Options implied volatility
