Bonds are hovering above a very important support level this morning. Bonds recently fell below a strong floor of support at the 200-day moving average, the selling pressure mounted and bonds lost 200 basis points in just 3 days. This new low is the potential current floor of support. With giants like Coke, Intel and JP Morgan Chase posting better-than-expected earnings results, Stocks are under heavy selling pressure this morning due to concerns it will take a while for the Fed action of late to help the system. Retail sales also fell and presented the biggest drop in three years. This could be a further sign that we have gone into a recession. Also today, Fed Chairman Bernanke is speaking today--and this can always be a market mover. The markets continue to act sporadically, but given all the news of the day, we are carefully floating anticipating this floor of support."