Which stock market is off 20%? When I look at the Dow or S & P , I see a roughly 10-12% decline from its peak value. And after 2 days of up 2%, suddenly there's a headline saying "the bulls are back."
NASDAQ's high to low was approximately 20%. After today's rally it's perhaps 16%? NASDAQ is the better index since that's the more likely liquidity source.
