Chart of the Day: A Major Bull Trap in the Making?

This chart may turn out to be the most important guidance from the past. Paper Economy blog delights the bears with this overlay of the Dow 1930 and the S&P 500 this year.
Given the severity of this downturn and a Fed looking even more helpless now than 80 years ago I would not be surprised to see the S&P 500 taking roughly the same course in 2009 - 2011 as the Dow did then, reaching its historic low only in 1932.