The speaker discusses market futures being down, with Nasdaq down by 1.28% and the S&P 500 also down by over 1%. Bitcoin is showing green but was also down earlier. He advises that it's not a good time to short and suggests considering buying in the green zone. The discussion extends to the QQQ, which was in a sell zone yesterday, leading to a significant drop. He predicts a reversal today due to the location in the buy zone, estimating a bounce to at least a neutral line which is about 1.33% or potentially up to 2% if strong. From a long-term perspective, the speaker suggests a 3 to 5% correction on the S&P 500, potentially reaching 6100. A drop is anticipated, followed by rejection at the green line or the 10-day moving average and further decline into August, September, or October, with a reversal from September to December. VIX showing a buy signal.