Recessions usually last about a year. That would place the end around March or April.
You can look at the numbers different ways and draw different conclusions. It's always been a mixed picture.
There could be just a lot back and forth and not a lot of net progress, ... and that wouldn't be all that unusual in an election year, particularly if the incumbent party does not get re-elected.
There's still some evidence people can point to that shows we haven't cleaned out all the excesses.
It's hard to argue we're at a major low where everybody hates stocks, where everything is washed out and balance sheets are totally cleaned up -- all those things that occur when we get to a major low,