ross. >> just turning around. >>> meanwhile, one top market watcher says markets could be in for an ugly correction. dennisold cnbc the s&p 500 could fall 15% from the highs that were reached last week. >> you can't say a bear market has started until you've broken the trend lines, until you've rallied back. i'm not willing to say this is a bear market at all. i think you're going to have a very severe, very substantive and ugly correction that will probably make a lot of people wail and mash their teeth before it's done. >> sir richardson joins us now. it's possible, isn't it? we've come a pretty long way and a very straight loonk line for a long time. >> absolutely. in the last two, three years, every time we've had that sort of correction, we've had the authorities, whether it be in europe or the fed stepping in and doing whatever it takes. and this time around, we have the fed in the december minutes quite clearly. they've been very consistent now. our impression is to not do 10 million pem meeting now, something has to go wrong. >> yeah. they're not going to worry, we had this not to worry about equit