As a reminder from the 2007 comparison the move from Point F to the low in the highlighted red box was 15.3%. So far the 2011 move has been 14.5%. Something to consider as history does often repeat itself in emotional markets.
This market still appears very weak with internals about as weak as I have ever seen. At the same time markets tend to turn around when everyone is screaming sell. As a friendly reminder, don’t be greedy and don’t be a hero. Remember the FOMC meeting is tomorrow.
2007 Comparison Reminder- Macro Story.