Every day I'm feeling more and more convinced that maybe we did hit a bit of a bottom recently. So there's a hurricane churning in the Gulf of Mexico and the price of oil plummets $5 per barrel. Whu?? I thought if someone so much as passed gas next to a pipeline that would cause the price to shoot up at least $10-$15 in short order. Wachovia loses $9 billion and XLF is up 1.5% today. Er? 
It seems like when the news is really not so horrible and the market is tanking (read, last fall), we're in for a correction or bear market even. Now the inverse is true. The news is awful and markets are holding on to gains this afternoon. Could this be the bear turning around? I don't know.