SPDR S&P 500 (SPY)

[XBrit]

I'm wondering, if this action continues for a while, maybe we really will see THE bottom in fall of 2008, rather than in late Spring 2009 as I had been expecting.

General question for the board, is technical analysis particularly hepful at a time like this? My perception is that it isn't because the market participants are no longer paying attention to fancy stuff like EMA's and support levels.

That's based on my view of TA, that it works because of mass psychology... everyone wants a roadmap that makes sense out of things, and if enough people agree on one, that makes it come true.

(Apologies to Foot, but I assume it's OK to post if I stay non-political and on-topic).