Provided it remains over the low close. We are in a bull market and I'll accumulate on leverage and continue to leverage until we see a new high. There is nothing that I see which hasn't been touched into a discount territory. When Australia, Japan, China, and finally Europe open they will need to fill these gaps. There's no contagion between these markets today.
It's likely going to drift higher nub. Laugh it up. The only thing that happened was some excess leverage getting knocked out. You could say it dropped because it is too bullish. I bet you just opened a brand new short into the close didn't ya? A little validation for your bad idea's is just enough rope for people like yourself to hang yourselves with.