Since then it is trying to stabilise and possibly establish a bottom.
Friday's action was good in the context of bottoming action. After a 200 point gap down on DJ30 we saw big reversal. There was also decent breadth to go with it. So it possibly indicates a short term or may be "the bottom" for this move.
Now earnings season is starting , that will determine whether we get last quarter Santa rally. Based on action so far , it looks very much a high probability move.
The volatile sideways action from Feb 2014 along with correction has created good circumstances for Episodic Pivots kind of trades to show up in earnings season. EP needs neglect and market correction has created that kind of background for many stocks. So focus on finding FB kind EP trade during the earnings season.
As of now SA indicates likelihood of move lasting for at least 5 to 10 days. Going by past similar phases, most beaten down stocks like WFM, WYNN, LVS will dominate action for few days before momentum stocks start attracting interest.