Yes, we are still in a bear market, and yes the indexes can still go lower. Heck, the SPY can still waterfall lower. But there are names that have been in their own bear market for a year and a half or two already. And they have either been basing, or are starting to come out of their bases. The big names, and the indexes can still go lower, but money is possibly rotating out of them and moving into names that have been repriced already, where opportunity is presenting itself.