and this is a picture of the S&P500. For daytraders and swingtraders, this chart may not matter. However, if you want to invest in the spy then I suggest you get one of those double short etfs. Right now its time to get real short and just a matter of identifying those components where there will be the most opportunity.
By the way, the green line is where, in my humble opinion, there will be a turnaround. One of my buddies feels that it will just keep going to the original stop point and my other buddy feels it will just keep going even lower then that.