Last week stocks saw a rally attempt reverse and prices settled with an
up-close view of important support. Interest rates are falling, as bonds
benefit from a panic-driven flight to quality. With fear running rampant,
you can sense we are near a bounce; but the strength of the recent stock
market move to the downside gives bears the edge and sets resistance for
any snapback. If nearby support breaks, we could see a freefall. If it
holds, then rally it is. Time will tell.