Black Monday?

1. Stocks in Asia fell sharply in early afternoon trading, at 12:20 AM EST.
2. If they closes sharply lower for Monday, that will serve as a catalyst for more drastic selling on wall street, may even trigger large scale of selling.
3. There is a small chance it's a black Monday, but it's probable it will close 2-3% lower on Monday.
4. I still think at least another 5-15% down side on Nasdaq. If it's 5%, it's a minor but quick correction; if it's 15%, then it's a 20% correction form this year's top, may indicate a recession is in place.
5. The stock markets has correctly predicted the last 8 recessions in U.S. There is only one problem: there are 12 bear markets during these 8 recessions. So it's possible that a bear market doesn't guarantee recession.
6. So now we have three likely cases here:
7. A small correction(10%) and the bull market resumes after a few months.
8. A sharp correction(20%) and the bull market resumes after a few months.
9. A bear market.