NYSE Euronext (NYX)

[Not_Bill_Oneil]

Even though we got a good close yesterday,

the volume was light, internals were mixed, and the data coming out and the overall market action are saying we have entered a recession. Further, the market is signaling that the Fed has no credibility at this point - so, expect more of the same from them, or better, don't expect much help from them, at least not yet.

As Bernanke stated, they are prepared to act with decisive action, but, that will first require more bad news hitting the market and creating further selling before they are sufficiently motivated to act.

GL.