The stock market as a whole has bounced back 50% from the last 4 weeks. The red zone was a short term support at 2900 and has setup my next entry in buying put options. The RSI is diverging lower, the last 50 candles % profit is about to go negative again and the selling pressure will continue. I do not know if stocks are going to make a new low, but I like to think of past historic recessions (2000 and 2008). With amazon, Netflix, and other stocks hitting new highs, I do not think the selling will stop until the "best winners" are down atleast 30%. In addition, gold is a superior trade right now and I don't see the need to buy stocks right now.