Fear and Panic everywhere. Time to buy

I'm not sure what to offer up in terms of advice here. Buy low sell high?

My job today is to figure out whether or not this is true selling or whether it was paranoia inspired selling that is now over.

Technically, SPY broke the rising trendline (A) connecting the March 2009 low and the February 2010 low. As we have seen before, this indicates the beginning of a correction (duh). However the crazy high volume indicates that this is the bottom. So we have conflicting evidence. Which one outweighs the other?

Tomorrow we have to look for a bottom in SPY. A good support level would be 111.7. If SPY can hold 111.7 then I favor going long. Yes I said it. Go long. Fear and panic is everywhere. This makes for a prime buying opportunity.