It's a whipsaw day for stocks as the major averages rebound in afternoon trading

even with the 10-year yield at 4.6 a big market comeback. That's the

scorecard on Wall Street, but the action is just getting started.

Welcome to Closing Bell overtime.

I'm Werg and Brennan with John Fort.

Coming up this hour, Satori Fund founder, Dan Niles is making a big market call saying

there's a rising probability for a

bounce in the S&P 500. What a day to have him on. He'll join us to break down

why he's turning bullish at least in the near term.

Plus we're awaiting earnings this hour from Chipmaker Micron and also from Jeffrey's

financial group.

We'll bring you those numbers as soon as they cross and as we await those numbers let's

begin with the market action. Stocks clawing back from significant losses this afternoon.

The Dow had been down more than 300 points at the lows, though Treasury yields and oil prices,

both holding gains and keeping that sentiment in check. Let's bring in

C. M. C. C. Senior Markets commentator Mike Santoli for his first take. Mike is

that rebound convincing? Not in itself, no, John.

It really just shows you, I think that we have a lot of the preconditions

for some kind of a reflex bounce in place.

Everyone's talking about how far we are down in a short period of time, 7-8% on the S&P 500.

Also, before today, eight straight sessions of negative market breadth

on the New York Stock Exchange.

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