For a buyer there must be a seller. Which means there must be a balance of competing opinions. A bottom is in when someone who bought in previous bottom gets wiped out and vows never to catch a falling knife again. 

Am I saying there won't be a reversal? No, I expect one now because it is a self fulfilling mechanisms.

There has been many ideas on pro and con on the idea that the price of commodity and energy and gold is being manipulated. I am not very sure about gold, but the stock market is always manipulated by the big players and insider trading and always has been. 

The basic principles are, if you have a deep enough pockets, you can sell the stock short and bring it down to below support levels, where many traders have put stop loss orders. Boom, the stock gets sold off hard as all those stops kick in. Wait a few days, and those jabbers comes out of the stocks again, dropping it to below the next support level again. 

Market stops gets blown and the traders are wary- " it's a down trend ". Knowing one how the engineered,  and knowing how other traders' reactions. This is easier than taking a candy from a baby and you've destroyed the stock and selling gets climatic then you have sufficient liquidity to start buying and covering your shorts without moving the market much. At the bottom, you switch over and starts accumulating. Working the long side in the same fashion. 

No problem, just sell it short when it approaches key level of support. Other traders will dump it. It's perfectly legal to sell short and cover. You can kill a little 300 m company like this with a mere 10 m sold short at critical junctures. That's the market. And it's always open to manipulation by large traders. 

• If it is the oil that causes the uncertainties, lets look back.

Let's look at the previous oil soaring crisis. Shale oil cost roughly around $70/+- a barrel to produce as it requires a prodigious amount of energy and cook the oil out of the shale ar tar sands. Let's not forget the solar, wind, tidal and etc.or are all competitive with 100+- a barrel oil. In other words, the cost of energy from any source may well remain or exceed the equivalent to $100 a barrel oil. There are hundreds of millions of auto and replacing them to alternative fuel enable will take another at least 10-15 years. 

Maybe alternative sources will be developed much quicker than anticipated, but if so the question remains, with what trillions and from where and at what cost? Neither money or technology is cheap.

If trying to discern the future of energy consumption and generation, it's hesitate to put much weight on any historical chart for a reason. The permanent decline of cheap oil is a time event without precedent.

• Fishing at the bottom? 

As we know the market is not in the habit of giving gifts. Any bull rally will take along very few participants. Many potential bulls are looking for capitulations such as a 1000 points decline in major markets. That will be wonderful because we will all jump in at a clearly easy temporarily mark down period. Because of everyone is looking for such a neatly engineered bottom, that will make catching the bottom far too easy. And the market is not going to take 90% of the investors along for a rally.

It will rally against all reasons and against all odds, leavng sceptics, fundamental analyst and pundits are still asking, " where's the bottom? " by the time the market have risen, 20% then it will be clear the bottom of this leg already in.

If it is so easy to catch the bottom, we will be all become millionaires or maybe much more than that. 

Seasonally Nov/ Dec is are typically positive months for stock markets. 
Now that the entire world is panicky and expecting a real major crash in the stock market and eventually turned into a new world depression again. Will it happen? 

Who would be killed, who will survive, you can know, just be honest to oneself. Winning is never easy.

I maybe force to say it's not the time yet. And like usual, I wish for a better tomorrow. 
Why I say this? Staying power. You have no way to survive without this kind of character. . 

P/s: this is not an investment/trading advice, it's simply a rambling of an amateur observer. Thanks for reading.