It is going to be bad. Very bad.
Moreso for countries strongly linked to the US.
Those are my predictions and btw I've had a better track record that the talking heads on the tube recently.
It’s easier to forecast volatility than the short-term direction of the market. I forecast that volatility will go up, and that it will permanently remain at a higher level than what we have experienced over the past year.
This said, there was panic selling on Friday. T-bills briefly had a negative yield. The % of S&P 500 stocks trading below their 50 day moving average is back at 2008/9 levels:
http://stockcharts.com/h-sc/ui?s=$SPXA50&p=D&yr=3&mn=0&dy=0&id=p14272540238
Same with the 200 day moving average:
http://stockcharts.com/h-sc/ui?s=$SPXA50&p=D&yr=3&mn=0&dy=0&id=p14272540238
I’m not saying that the markets will move up on Monday, but I wouldn’t want to load up on short positions here, either.