[simpleman]

The market has been planned to cover the gaps.  It might just continue to cover the other gap.  Likely to be another dead cat bounce again unless Fed can withdraw or lighten its monetary policies.

On the positive side, these gap coverings, ie large volumes of short coverings & institutional unwinding of opex towards the end of the quarter, remove volatility in markets. Typically when vix drift downward, a base is formed to support upward stocks movement. For the immediate term, at least, there could be a relief rally through to early next month when the Fed meet again. On the macro front, last week's rebound was fueled by a slew of downbeat numbers portending a looming recession, turning bad news into good news. Similarly, sentiments could quickly flip from expectations of rate hikes to rate slash.