Well, that was fun. As

Well, that was fun. As declines go, yesterday”s decline was pretty big. As wooly mammoths go, yesterday”s decline was still a contender. At 130 Dow points vs. yesterday”s 260-point intraday low, this morning”s decline measured half of a mammoth — half of yesterday”s mammoth.

Today”s mammoth may be on the verge of extinction, as it was just shrunk entirely. That is, the Dow just returned momentarily to unchanged.

This morning”s opening gap down already bounced to fill that gap, and filling that gap resolved down to new lows. There was a bearish reason to fill the gap at the open, which was to neutralize its attraction above. Having capitalized on that, there”s no bearish reason to do it again.

That”s not necessarily a bottom, just potentially. Greeting tomorrow”s Employment Situation report from under prior lows probably won”t react favorably. But sellers might be marginalized for the balance of today. And that wouldn”t be favorable to marijuana stocks, since beaten-down market leadership would become more attractive.

Post any chart analysis requests to this thread. And don”t forget about today”s post-close weekly Livestock Unlimited at 4:45pm ET. (I”ll send the link and a reminder after the close.)