Bottoming Process

One thing a study of the historical market bottoms in conjunction with chart patterns can assist in is awareness of what bottoms look like and act like. With this in mind, I collected a few charts from StockCharts.com which show a some of the more common bottoming formations.

Using these as a template we can put into perspective where the market currently is in relation to typical formations which can assist in clarifying where the market is. Does the following resemble any of these patterns thus far?

RUSSEL 2000

Taking the Russell 2000 and sorting by stocks that have underperformed the market during this correction and sorting those by dollar volume we can determine whether or not these patterns are forming in the underlying stocks and from this infer whether or not the indexes may follow.  If there is continued selling in these broken down stocks then it follows that it will be difficult for the indexes to put in that pivot low that distinguishes the bottom from the entire process.