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The problem with this analysis is that you don't show a straight S&P chart. The YTY percentage change can be highly misleading. When consumer confidence plunged in early 1980, the market had already dropped 18% from the previous 6 months and that was off an already depressed market coming out of the 70's.
May 28 15:01 pm
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All Comments by ItsJustMe »Consumer Confidence Plunges - A Buy Signal [View article]
Now consumer confidence is reaching the same lows after a 6 year bull market that is only down 9.7% from its all-time high. I think I'll pass on rushing into the market on this "great news"...