The market action over the past week was nothing short of astonishing, resulting in a multitude of statistical oddities as far as normal market behavior is concerned.

The ratio of the S&P 500 to its 20-day moving average dropped by four standard deviations and returned to its long-term mean in a single week. The 10-day moving average of the equity put/call ratio peaked at nearly three standard deviations above its long-term mean while the VIX peaked at around 35, or three standard deviations above its long-term mean.

All three indicators suggest that we’ve made or about to make an intermediate market bottom, but this is contingent on positive perceptions regarding the news flow and the economic-rescue plan over the coming weeks.