The markets erased yesterday's losses with short covering and buying due to the much oversold conditions we have experienced and comments made by Bernanke during the day. I would have preferred to seen a panic washout of those lows, but the market does not always give us what we want. Tonight Obama speaks and I am sure the markets will react in some way to his wording. The economic news continues to be poor and will continue to do so for several more months. The markets will try and price in its expectations and the market always turns before we see any improvement in the economic numbers. The market wants some clarity and direction. It is searching for less uncertainty and a reason to rally. The rally will only be a bear market rally as the bear continues to be in control. We will only know it is over after the fact... will the bear end with a growl or a whimper?