The first image is from Nov. 1929. The second one from last week. If history is to be repeated, then the lows will not hold. The Dow made yet another low three days later (another 19%) and that was the low for 1929. Extrapolating -just for fun- we may see 765 for the SP this Wednesday and the low for the year.
The wildcard in the question "Will the low from Friday 10/10 hold?" is Warren Buffett's recent statement: "Time is right to jump back into stocks". If Obama wins the election, Buffett may get a position in Obama's cabinet. In that case, stocks **must** go up, or Buffett (and Obama) will look bad at a time when America needs some serious reassurance. On the other hand, I remember when Bill Gates purchased a large stake in Pacific Ethanol (symbol: PEIX). He bought high, lots of people got sucked in by the "Bill Gates" name, then PEIX crashed. At the low end, Gates sold some of his shares at a loss (presumably to make the people who got sucked in feel better). "Will the low from Friday 10/10 hold?" Could go either way.
it doesn't matter at this point In october 2002 the market suddenly rebounded irregardless of technicals. It just started surging, and didn't look back. Same can happen here.
Considering the S&P500 is at an 11 year low, you still haven't put away your pompons yet....I'm impressed.
Stock, does being wrong constantly ever make you question why you bother to post here? This is a site for traders, you are not a trader, you will never take a dime out of any investment you make because you are an idiot. cheers