You have probably seen and/or heard dozens of market commentators discuss their views on where the S&P 500 bottoms in the current market cycle. Some say we are at the lows right now. Others think the index might make its lows at 3,400 or 3,000 or even lower still. This is an important debate for every investor, even those who do not own US stocks. History repeatedly shows that stressed global equity markets all bottom at roughly the same time. Call the bottom on the S&P and you have likely called the lows for non-US equities as well. We use two approaches when considering where the S&P may make its final low. The ... (full story)