Bear Market for US stocks started a year ago, (See post linked below "Was this the final hurrah?")
1st phase is over, where smart money is out.
2nd phase is when the public get involved because MSM start talking non-stop about the recession (falling earnings for overvalued companies)
This will be phase 2. And it will be very volatile. More-so than what we've encountered this year.
3rd phase is yet to come.