Monday is the best time to liquidate the panic-selling positions, because everyone has just had a weekend, and they’re a bit hopeful—so on Monday, we wipe out all your confidence.

Then Tuesday is also the best time to wipe out panic positions. Since Monday already dropped like this, on Tuesday some people want to wait for a rebound—only to end up killing confidence again and wiping out another wave.
As for Wednesday, it’s a key turning-point, a point that connects what comes before and after—this is also the best time to liquidate panic positions.
Thursday is the statutory dump day; everyone knows it’s time to kill panic positions.
By Friday, it’s the most panic—because it’s been down for a whole week. People start wondering whether there could be a rebound, whether there will be any news over the weekend… and then we keep killing you.