The market opened on a weak tone and sold off aggressively lower pushing the Dow to break below the 8000-level, the SPX below the 900-level and the Nasdaq below 1600-level. From there a sharp rally occurred puting the market back near/slightly into positive territory during the first hour. Selling into strength has become routine this week and the markets gradually slid lower into midday, notching fresh session lows before 2pm EST. A consolidation developed along the lows of the day which led to a final rally attempt post 3pm which broke the intraday downtrends and allowed the averages to pare most of the day's losses. The swings were wide as the VIX reached a high of 76.94, leaving the Dow -128, SPX -10, Nasdaq +4, Russell +23. The Bond market is closed on Monday due to the Columbus holiday, so expect trading to remain erractic among light volume.