and 50 SPX points bounce off intraday lows is not a bottom? I think it is. Expect a retracement and possibly a retest of lows but WE MAY HAVE SEEN THAT ELUSIVE Intermediate term LOW. Consider what happened during the past few months: all the gains for the last 4 years have been wiped out. We are back to 2004. Reset the clock, we are now at the start of another rally but this one will tough going. Trading could be very boring and difficult during the next year or two.