You have a stock market ticking cautiously upwards.
You have the TED spread coming down, which shows a willingness on part of banks to lend money.
GMAC relaxed credit rules to lend (not to bad creditors, but to good to excellent creditors).
I think the money being pumped into the economy is starting to have a positive effect on spending again. Yes, it is going to kill the dollar value, but it is getting the economy going.
I think many are waiting on the Obama/Democrat stimulus plan, which, if not totally stupid, will have a positive effect on confidence.
Look, I do not support the financial bailout, I don't support Democrats spending wildly, and I surely do not support Obama in any possible way. I am just saying that there is a "feel good" effect that is going to help turn things around.
Did you see the IBD editorial from last week? IBD says they think the bull market will end by the end of the second quarter of '09.