The Dow now hovers in the mid 8,000 range. With a long-term view in mind, an obvious question is whether the decline to date has taken us below the mean value of the index. If we plot a linear regression through the Dow since 1950, it appears that we've fallen sharply below the mean.
If we chart the Dow since 1928, the current level appears to be a regression just slightly below the mean.
However, if we chart the Dow since 1900, the picture is less optimistic. Regression to the mean would require an additional decline to the vicinity of 5,500 to 6,000.
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