Without getting into much detail, it's safe to assume the much too much-anticipated next leg of this bear market is definitely under way. I still had some legitimate doubts because of the resilient Nasdaq and the low volume of the last couple of weeks but today's 400 point destruction on high volume (click on chart to enlarge) leaves none. A test of the January lows is now just a matter of time.
I can't resist relaying this gem from CNBC.com:
"Friday's wild selloff in stocks, which many analysts saw as an overreaction, could set up a perfect opportunity for investors to go bargain hunting."
What else did you expect from CNBC?