Lots of bullish sentiments of late. This has been a carrot and stick bear. Currently it is wielding a carrot but I don't think it will last or grow into a full bull charge. Maybe traders are enjoying the swings but stealth is of the essence lest it fizzles out and one is left naked especially for the ones chasing prices.
The bounce feels a bit rushed and uncharacteristic - I can't see any room for a J recovery more so at this point in time. In my opinion, the real fireworks are yet to go off. Expecting some more sideways action before the plug is pulled again.
That said, 3300 mark should prove interesting if we get there.
The main purpose of the stock market is to make fools of as many people as possible.