"The Dow succumbed to selling after zigzagging for most of...

"The Dow succumbed to selling after zigzagging for most of Tuesday's session amid massive declines in shares of J.P. Morgan and Citigroup. And a tech meltdown dealt the Nasdaq its lowest close since April 1997 on extremely heavy volume. The S&P 500 also cratered to fresh 5-year lows on the back of tremendous losses in energy, utility and gold companies. The Dow Jones Industrial Average ($INDU) declined 82 points, or 1.1 percent, to 7,702 after climbing as much as 110 points, the Nasdaq Composite ($COMPQ) plunged 53 points, or 4.2 percent, to 1,228 and the Standard & Poor's 500 Index ($SPX) relinquished 2.5 percent. Volume was a tremendous 2.41 billion on the NYSE and 2.4 billion on the Nasdaq Stock Market. Market breadth was terrible, with decliners obliterating advancers by 27 to 6 on the NYSE and by 28 to 8 on the Nasdaq."

Sounds like a bottom to me. Also to other traders, if the futures have moved up.

Only an "80% down day", I can count a bottom now. Also my favourite indicator, the "doom on front page" indicator, has been and gone - though you really need the Age or SMH to comply, not the Sun.

Turns out SPX and NDX were better shorts than the Dow. But cant complain.