Consolidation time and then dump or more chop

I see only two scenarios: We create a swing low Monday on bad ISM data and weekend CV news, then start consolidating for a few days to perhaps weeks and then get rejected at first key ressitance like weekly 50 EMA/MA at around 3030. I don't think the trapped longs from last fall to now will be able to get out. That is wishful thinking even with Fed intervention.