I would guess when a few more crappy earnings reports come in and reality of banks-led recession sets in, we test a new low of about $64 or slightly lower by this time next week.
The Fed can cut and cut but the truth is, the banks are NOT using the new money to for new loans. They're using it to patch holes. Patching holes is NOT economic growth. They're just trying to reduce the carnage. Wait until the bond market goes too. Bad, bad news for growth companies.