Interesting article from Bloomberg; S&P 500 May Fall More as `Retest' of Low Fails to Spark Rally Bloomberg.com: Worldwide "De Graaf, the highest-rated technical analyst in Institutional Investor magazine's survey the past four years, said other indicators suggest stocks will keep falling. They include declining stocks outnumbering rising ones; higher trading volume when the market is falling than when it's rising; and two- year Treasury note yields near record lows at 1.17 percent, an indication investors are seeking to avoid risk. Yearlong Drop The S&P 500 tumbled 44 percent this year to a five-year low on Nov. 13, and dropped 48 percent from its October 2007 peak, according to data compiled by Bloomberg. Stocks were dragged down by almost $1 trillion of writedowns and credit losses at financial companies globally stemming from the collapse of the U.S. subprime mortgage market. The index is headed for its biggest annual decline since the Great Depression, when it fell 47 percent in 1931. Of the 30 stocks in the S&P 500 that traded at $100 or higher at the peak, 24 now trade under that threshold, and eight fetch less than $50, according to data compiled by Bloomberg. The Nov. 13 slide pushed the S&P 500 below its previous intraday low for the year on Oct. 10. The index fell 2.6 percent yesterday. ``The final low will be much lower than this,'' and may not occur before the fourth quarter of next year, de Graaf said. "