"...Volume was a paltry 460 million shares on the New York Stock Exchange and 580 million on the Nasdaq. Decliners were leading advancers 17 to 13 on the Big Board and 19 to 10 on the Nasdaq.

Monday was expected to mark the start of a quiet week on Wall Street. In addition to being a typically slow period as the final summer vacation week heading into the Labor Day weekend, many elected to escape New York City as it plays host to the Republican National Convention. See our full convention coverage.

Barrington Research's Alexander P. Paris believes, however, that the slowdown could be setting markets up for "a nice post-Labor Day rally."

Paris said that with the extremely light volume of the past few months it looks like sellers "are already fairly exhausted," and he thinks that there may be a "quieter stealth beginning" of the next upward leg of the market.

"It would be driven not by just one big catalyst but an accumulation of smaller events and a gradual realization that underlying fundamentals are not as bad as investors have been thinking," he said."

Looks like we've had, not the sharpest, but one of the longest slides in some time. Time for the next leg up?
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=indu&sid=0&o_symb=indu&freq=2&time=13&x=44&y=16