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Stocks snapped back after the downside rubber band got a little overstretched. The indices blasted off for 2-3% gains with the Dow gaining 548-points. Some solid economic data may have had something to do with it as job openings hit a record 7.1 million in August, but the futures were rallying sharply beforehand so the market may have just been looking for excuse to bounce back.

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Anybody having fun yet? The Dow lost fell another 327-points yesterday, which was off the -450's lows, but the choppy backing and filling off of last week's lows is still in progress. So far it has been contained within the range that we've been talking about since last Thursday's big decline, and it continues to work through the process of either creating a bottom, or starting another leg lower.

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