But for reference look at what happened in March and April 2005 as the market continued "repricing".
Notice how the (Very Rare) "OFF THE CHART" longer term extreme of April 21 signaled the bottom finally.
For reference, here's a March/April 2005 chart:
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&st=2005-02-01&en=2005-06-01&i=p93114179741&a=100507769&r=9201.png
Edited by Rogerdodger, 27 July 2007 - 12:02 AM.