The S+P has now declined for seven days in a row, from Oct. 24 to Nov. 2. The Dow has declined five days in a row, from Oct. 26 to Nov. 2. In both cases, the drop hasn't been that much, but it is the trend that is disconcerting. The Dow is at its floor of 17959. I believe the best case scenario is for it to continue to drop slightly, like a managed decline.
The problem is if investors notice the trend, notice that it has broken through the floor, and then are not sure where it will stabilize, so they panic sell. But it probably will bounce around a little and stay at the same level until the election. Then who knows.
If the S+P declines again tomorrow, then it will match its all time losing streak of 8 days from Sept 29, 2008 to Oct. 10, 2008.
Update 11/3/16: Stocks declined again today, and again by not much. It does seem like a managed decline. The S+P is now down for 8 days in a row, matching its all time record. The Dow is now down 6 days in a row and closed at 17930.
There was a nine day selloff in the S&P in December 1980.