Inflection Point

S&P 500 Index at Inflection Points
Click to enlarge:

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Note: If you were to use intraday peak and trough you get a number closer to 57% drop on S&P500 (recall the SPX 666 marker)

The chart showing % needed to recover losses and return to market peak after the jump . . .

http://www.ritholtz.com/blog/2012/07/sp-500-index-at-inflection-points-3/#more-81801