Dow TA. I just eyeballed the Dow chart. We could be forming a bottom. The formation is either a bear flag, meaning a break down, or a bottom forming. It is a bit long for a flag or pennant.
To my mind, we should have another leg down. We have passed almost all the stages of a bear cycle, now in Irrational Pessimism. We have not really entered Abject Despair where market participants leave stocks for good and no one really cares much or believes the market will ever rally.
That and a $1.50 will get you a cup of coffee at Starbucks.
More realistically, no one knows where the bottom is yet. "Information evolves slowly in bear markets, Hussman." We simply don't have enough info. Probably no more banks will fail. The feds have gotten proficient at bailing them out with imaginary money.
Support is at 8,000, resistance 9,000. A tell would be a convincing close breaking support or resistance.
Having been out of the markets mostly for a while and in cash, it could be time to scale back in. I don't believe that there is any hurry. With this broken market and horrendous economy, any rallies tend to be tentative and short. If the Dow gets back to 14,000, this could take a year or even much longer.