Yesterday was a 90% down day, meaning that in the NYSE total volume, over 90% of this volume was made up from declining issues. Another rule by Lowry's that defines the 90% day is that in a down day the high-open ratio to the open-low must be over 9:1. Reverse is true for up days.
Why is this important? Well Lowry's research shows that nearly every bear-market ends with several of these 90% days both up and down.
To read more on this interesting subject see Lowry's report here:
http://www.box.net/encoded/6048806/56090660/d336cf94eb032b4b515fb800bdca9309
That pdf is hosted through the courtesy of http://www.tradersnarrative.com/
Cheers