Here's a link to a very informative article that provides a thorough "data supported" explanation of where we are. The market indices and the underlying parameters appear to be in full alignment.
After Shocks from the October Meltdown
by Gary Dorsch, Editor, Global Market Trends, SirChartsAlot, Inc. November 7, 2008
While you're on Financial Sense Online, browse around and note the breadth of content on this website. Also checkout Jim Puplava's radio/internet broadcast