SPX

SPX sold off 57% since the Oct 2007 top. Major markets are very oversold and show positive divergences. We have "House Panel Sets Hearing on Mark-to-Market Accounting" and the change will help to stabilize the current market crisis.

The SPX long term chart shows the 2000-2009 market sell-offs and rallies. The 2008 bear market sell off is much steeper than the 2000-2002, and as noted earlier posts, that market money inflow has not been as high as during the late 1990s as many stayed bearish during 2007 going into the 2008 sell-off. The current bear market is a second wash off after the 2000-2002 sell-off. Some indicators are showing the effect described above, Money flow as example is showing a positive divergence. The customized trend strength and direction indicator shown on the chart is quite oversold. The LOD SPX 666 +/- is near targeted sell-off from the Jan 6 top, 943.85 -- the 5th wave formation which started in Oct 2007 is likely completed finishing the day with a reversal formation after trading near to the targeted price.

Prior comparative LT bear market chart analysis of 1929-1987-1997-2007.
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