Brabus, it may well go lower but 820-840 on the SPI is a barrier and a bounce point. Fund Managers do not appear to want to break this point.
Further at this point based on Historical PE's shares are good value exact PE average I am unsure of but I think you may find it is around 8x.
Further Historical Dividend yields at this point on large portolio in US terms >4% and hence above TD rates. This is also reflected in our shares on ASX50.
In ASX 200 GMG for example is at 19.1cps for share price 108 for yield of 17.7%. Even if profitability decreases 50% yield still better than TD.
So shares are fair value. Picking the bottom is fruitless. The 50% buffer is in expectation of reduction which MAY or MAY not eventuate. But for specific shares at these levels there is now good historic value.
