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letamp;#39;s bring in Tom Lee managing partner head of research at fundr Global advisors as well as a CNBC contributor in times like this in the past it always would help to know uh Tom whether itamp;#39;s a a sharp scary Spike down which a lot of times uh the other side looks just like it or people are hoping for that so much that they donamp;#39;t see that it might have longer to go do you do you get the feeling that this is not going to be a major selloff uh for now I think it is the former that you described you know we have over three days suddenly markets reverse and you know Japan down over 20% and as youamp;#39;re pointing out the NASDAQ could even you know decline further um declines like that are generally symmetric but you have to watch the vix and when the vix Peaks and starts to roll over and fall down the recovery can be just as quick I think a lot of this depends on whether Financial conditions in the US start to tighten you know meaning like do Market seize up but w