Have we capitulated yet?

[Gardnr]

That's a big reason why this one feels so sickening. In the tech wreck of 2000-2002, several equity classes went sharply higher (small caps, REITs, emerging markets, precious metals to name a few). As a result someone who had a diversified AA (and not overweight tech) didn't get slaughtered then because gains in these areas mostly offset losses in large cap U.S. stocks.

Contrast that to now, where nothing that's an equity asset class is avoiding the carnage.

Yeah but just think, they should all go up together too, and won't that be fun!

 

[al_bundy]

if this wasn't the bottom, i think it will be in a few months on a lower VIX

even after yesterday the charts were still bullish and looked a lot like end of 2002. back then it was pretty bad on July where the VIX hit the same level as now and then a lower low in October on a lower VIX and some averages like the MACD were higher than July.

means that the second drop was a lot faster and people sold out of pure fear where the first drop is more gradual and people still have hope