Double bottom statically unlikely.
At this point I am not expecting to see the market fall back to previous lows. What I am expecting is a very slow, long recovery of the market.
For the first time in years we are starting to hear people talk the market up. Do not get me wrong the Bears still out number the Bulls but there are Bulls.
Those chasing a quick recovery are going to be bitterly disappointed. There will be plenty of bargains along the way and you will receive lovely large dividends as well. Excitement will not be abundant, but in 5 years you will be glad that you stuck with it.
The major issue in our market right now is political. When will the next election be called and who will win. To me this is the catalyst to bring back the optimism in both our daily life and the markets.
So keep looking for the bargains, slowly get the cash back into the market and wait for the long-term rewards.