In order for it to officially be a bear market the S&P 500 must close BELOW 1252. A lot of stupid pundits say we're already in a bear market when it isn't the case. The nasdaq doesn't count. It has the be the S&P 500. Will we enter a bear market? No we won't. We're close to one, but still 40 points away. It would take another 3.5% decline in the S&P 500 to actually enter a bear market. The futures are looking pretty good. Usually when they are only down a little before Europe opens they tend to move higher and possibly green. If the markets open lower by 3/10% expect heavy 10:00 buying and a 100+ point day on the dow. That will probably be the bottom. No bear market and no recession. Not gonna happen. Buffet is wrong. Cheap dollar is good. Everyone anticipates more economic weakness and more selling, but will it happen? Maybe not.