Thanks for the complements on the chart - I'm still a bit cautious about using it to pick a bottom. Different people have quite different ideas about the emotional state of the market, and can be difficult to separate from your own personal state (which also depends on your positions). Very interesting to hear others thoughts though. I guess there's the possibility that we're only halfway through the panic stage but volumes suggest we've gone through (or at least going through) capitulation.
I imagine the despondency low would be quite low volume as some of us won't even bother to get out of bed any more.
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