Quote:
SECTION 34 POSSESSION
ART. 1 . . . A ball in player possession is a live ball held or controlled by a player
after it has been handed or snapped to him, or after he has caught or recovered it.
SECTION 4 CATCH
ART. 1 . . . A catch is the act of establishing player possession of a live ball
which is in flight, and first contacting the ground inbounds or being contacted by
an opponent in such a way that he is prevented from returning to the ground
inbounds while maintaining possession of the ball.
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The answer to your bottom line is, "Yes, if you judge it so." Player possession = control. Catch = player possession in bounds.