I too am not overly joyous and not buying much yet.  That seemed like an early tremour, not the major quake.  That said, I think it is a bit reckless to try to guess where the market is going, instead I think the prudent thing to do is judge what it is and has been doing. The high volume sell offs was pure distribution, and until we get several days of increased buying on high volume, the market will not yet be in a rally mode.  Nice to see green on the screen tho!