I think even the long term investors will start to loose faith, if we are going to drop even further. I think a break of the 8000, will probably be devastating, at least for the medium term.
For now, it's hanging to long at the low and below the 9400, so big chance we will make another 500+ point drop soon. Unless it is able to push though the 9400/9500, then it will take much longer. I have already closed some of my short position, and i will close more if we break the 9500.
A chance i will turn long for the short squeeze