The good news is that the market is not going down even when some bad news come up. There is a bit of optimism there. This is the current ASX S&P 200 index chart:
The March lows are consistent with many calculations of the possible low for this current downturn. Prof. Roubini and John Mauldin have mentioned similar levels in their analysis. But, many have also said that it will get worse before it gets better. Whether "worse" meant the March lows or the effects on the real economy, where unemployment is expected to peak only in 2010 or even later, is hard to say at the moment.
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