Today's low is 62.68. The lower trend line from 2009 lows is near 60.00. If that's what you mean, then 62.70 is indeed close to those bottoms.
Bottom?? No one knows where the bottom is....I keep hearing that the SPX is suppose to end the year at around 1400+... Thats what all the analysts said hahaha This market is worthless. Everytime it runs up everyone is jumping in like its going to leave without them, little do they know is if you have a little bit of patience you can always buy it back lower, I think you will be able to buy the SPX under 1000, yep 1000!!!!
This market needs to bounce soon or its going down right through the end of the year....looks like no one wants to buy and people are waiting for the fix on the fiscal cliff which we all know is going to be fixed so start buying stocks now! Funny how people were jumping in at SPX 1400, 1410, 1425, 1450+ and now with the SPX at 1352 no one cares to even by a single share of stock!
That's because people are afraid of "heat" but the correct approach is to buy during panic and distribute during happy times.