Rather than relying on hope as the primary driver for making decisions, investors would be well served to focus on the fundamental and technical facts. An analysis of the facts leads us to conclude we are facing the following in terms of probable outcomes:

* Highest Probability - New lows / continuation of bear market.

* Moderate Probability - Cyclical bull - higher highs - followed by retests or new lows.

* Lowest Probability - A sustainable bull market (secular).