From a Dow theory perspective, the primary bearish trend change that occurred in August in conjunction with the decline into the October low remains intact. But, as this low was being made, I stood alone in saying, in the articles posted here at that time, that not all bearish primary trend changes were created equally and that what we were seeing was a cyclical and secondary low point being made rather than the beginning of a melt-down as was the general consensus at the time.