Here is an image of this morning's New York Times. It tells us that Bernanke's reassurances failed to halt the "stock plunge". A little later in the story we learn that the decline so far in 2008 has been a "stomach churning" 9%. Then we discover that "investors on Wall Street remained in a black mood as data showed that the housing debacle was getting worse and beginning to bring down the rest of the economy".
The more emotion-ladened words there are in a news story or headline the more likely it is that the story reflects a solid consensus of opinion. In this case I think this Times headline is telling us that stocks are scraping bottom and that a sustained advance is about to start.