Bob Brinker Test Of Low Conditions Met

Today the S&P500 closed at a marginal new low on lower volume than the last time it was near this level on January 22. Thus it meets Bob Brinker's conditions for a successful test of the prior low.

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Intraday Charts (Candlestick Chart)

Closing Basis (Dots)

Only time will tell now if this is a good indicator.

Correction Statistics for 03/06/08

S&P 500 Charts (Using Intraday prices):
Last Market High 10/11/08 at 1,576.09
Last Market low 01/23/08 at 1,270.05
Current S&P500 Price 1,304.34
Decline in Pts 271.75
Decline in % 17.2%
Max Decline 19.4%
This means the correction from intraday high to intraday low is 19.4% and we are currently 17.2% off the peak.
The decline from the high to the low on a closing basis is 16.7%
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More DJIA Charts (Using Intraday prices):
Last Market High 10/11/08 at 14,279.96
Last Market Low 01/22/08 at 11,508.74
Current DJIA Price 12,040.39
Decline in Pts 2239.57
Decline in % 15.7%
Max Decline 19.4%
This means the correction from high to low has been 19.4% and we are currently 15.7% off the peak.
The decline off the high on a closing basis has been 18.7%

More NASDAQ Charts (Using Intraday prices):
Last Market High 10/31/07 at 2,861.51
Last Market Low 01/23/08 at 2,202.54
Current NASDAQ Price 2,220.50
Decline in Pts 641.01
Decline in % 22.4%
Max Decline 23.0%
This means the correction from high to low has been 23.0% and we are currently 22.4% off the peak.
The decline off the high on a closing basis has been 22.3%