Volatility in the Russell 2000 Index...

I was just about to sign off for the night when I noticed this...here's a chart of the RUT...each candle represents one yearly quarter...the current candle began July 1...it has fallen the same amount so far that it did from April 2, 2007 to October 2008...1 1/2 years' worth of time then compared to one month this time...looks like major horizontal support is around 550...can you say "Volatility is up!" Good nite!