The rollercoaster ride continues, as the market grapples with finding a bottom, even temporarily.  Buyers emerged early, but not enough left the sidelines for a sustained rebound attempt.  The S&P 500 climbed off the low of the session to 3,082 before buying was exhausted.

Then it was back to the downside, and a test of the earlier lows, which held long enough for a quick double bottom.  Once that level failed, the sellers moved to auto-pilot.  The next potential support point on the S&P 3,000.  This is the kind of session that is a perfect test for the market, because there is no reason for the market to rally into the close.

Note, as improbably as it might seem, a few times this week the market has rallied into the close.

Once again energy and financials look terrible.