I now officially changed my views to believing we're in a bear market - even though we had a sucker's rally today. Maybe the Fed will deliver next week with a 50bp cut - but probably not. When markets don't rally on cheaper capital, meaning dreadful Tuesday that generally means a bad thing is going on, especially with that large of a cut. I wouldn't be surprised if we got no cut, considering the current Fed's overly cautiousness on inflation. Plus, add in the economic data we got coming next week. Store sales, Durable goods, and Consumer Confidence are all coming out on Tuesday, along with the FOMC annoucement and preliminary GDP due out on Tuesday. Combined with Friday's employment situation report and ISM manufacturing index, we'll probably see a down week. I'm thinking we might even test the lows of 2002, look at the chart.