As a day/swing trader I really care not a lot for major market moves, though I respect thoe who do and play the... hopefully profitably. For those traders it might make sense to look at weekly/monthly charts rather than just the daily. For myself, I see last October as a bottom: certainly a trading bottom and perhaps a major bottom. I'm not sure, but I'd rate the probability of a major bottom at 60-65%. We'll have to wait. The market, she doth speaketh.
DOH! How embarrassing! I had the farking data upside-down!
Take another look, I think you'll find that 1998 looks a little more rational. On the other hand, it now appears to be a better bottom finder than top finder! Go figure.
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