A lot of people are out there calling a bottom to this market. But I’m not going to. Too much risk remains in the market. Besides the government has gotten everything wrong to this point, what makes you think it will for once get something right now? Remember two weeks ago after the market saw a +700 point decline in the Dow, followed by a 500 point increse, only to see the next week and a half be met wth drastic declines. There is still a chance that could be the case here and that investors will be tempted to book profits on any follow through in the morning. Very rarely does a gain like today go unchallenged by the bears – especially in a bear market.

Here’s the Nasdaq and S&P charts…