On the exchange trading floor Thursdays and Fridays daily price action in the S&P 500 would be described from a market maker's point of view bouncy lows and a bouncy close. What is this represent? Are sellers from the last few days buying this market back before the holiday weekend? Has this market gotten cheap enough that buyers are willing to reenter this market? The price action on Monday could possibly give us some clues even though it is a shortened session. Ideally we would want to see a close above 3850.