Bounce came as it was highly probable and more than a few shorts got caught holding the bag once again. Transports and small caps confirmed this bounce so it is probable that we get at least a day or two more out of this, at very least an intraday upward move tomorrow. Although still long, I will be carefully watching intraday action and ready to jump ship if this bounce doesn't crystallize further. My only complaint was volume was pretty weak although I am a firm believer in staying focused on price.
Here's a post from Cracked Market that sums up basically my opinion also. Check it out.