
It is possible we could see this indicator drop to lows of -2,000 as part of the current decline, although historically it tends to zig-zag a little more; however, there is a reasonable chance we could see a new low below -1,577 for 2009. The 2008 low of -1,577 beat out the previous record low of -1,444 posted in 1998.
A similar shift is underway in the Nasdaq Summation Index; the broad uptrend from 1998 reversed to a downtrend, the anchor for the peak was the 2003 high. What will be the anchor low for the next uptrend? Is it in place at -1,668?

Whatever happens, there is a little to suggest the markets will be going up in earnest anytime soon.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website