15 Month Bear Market ???

A drop of more than 20% suggests we have entered a Bear Market.  This morning we bounced quite near that 20% correction mark.  The previous Bear Market in 2008 took 15 months to complete.  In corrective markets, time appears to govern over price.  Knowing this, I believe this leg down will also take 15 months to complete.  It will look somewhat symmetrical to the ride up, but it will be shorter in duration, therefor have much steeper looking moves.

Pegging a price for the low in October 2012 will be near impossible for me at the moment.  Levels of sentiment and the magnitude of the lies will determine how deep this rabbit hole goes.

I do not see us getting back above S&P 1240 for multiple years.  If this next leg up pushes me out of my position at 1250, I will pack up for a considerable amount of time.

Here is my charted long term outlook.  Sentiment, global credit insolvency, and lack of Government direction, suggests the analysis is correct.