Monday's key will be whether it holds at Thursday's low or closing levels

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If it's at Thursday's closing level, it would be around -2%.
If it's at the low level, it would be around -4%.
Since the index rose significantly on Friday and stopped in the 4% range, I would have thought that Monday wouldn't break below Thursday's closing level.
The problem is that even during Friday's rebound, the index only rose by 2%... so if it drops by the same percentage as the previous 3%, 5%, or 7% drops, it will immediately fall below Thursday's closing level.
If it manages to hold Thursday's closing level, it's somewhat okay since it's a level that has held before, but I also have my doubts about whether it will only drop by a mere 2%.