the bear market is over. returning to the 1987 chart, price touches down at a and bounces to make a higher valley at b. this pattern is called an ugly double bottom. in a traditional double bottom, price touches down at two valleys that are near the same price. in an ugly double bottom, the second valley is higher than the first. it is an ugly version of a traditional double bottom.
looking at the other charts, point c is near where price bottoms in the higher valley, but i do not show the complete down on this chart. points j and l are the higher valleys.
the 2008 bottom will have 