After a nasty day like yesterday there is generally a rebound, which is what we have seen today. I don't have a strong opinion about where we will go next but a down day tomorrow would set us up for a rebound next week. At the end of the day tomorrow the put/call ratio will give us an oversold reading as well.
The sub-story today has been the complete carnage in many momentum favorites. The 39% drop in Green Mountain Coffee carried over to many other momentum names. Growth managers are having a very difficult year and there is a danger of a puke-fest. Have a good night.