This is a repeat of August 16th 2007 when the dow lost 500 points and the regained everything. It fell to 12500, closed at 13,000 and surged to 14,000 shortly after. Consumer spending is key. No slowdown. No negative GDP. The restaurants and colleges are packed with people. NO slowdown in traffic. NO signs of economic weakness unless you happen to work in the mortgage or finance industry.Credit card spending is showing no signs of slowing. Rising wages=more debt=economic growth. I warned ya'll the rebound was coming. This is why you don't short when there is no compelling reason to do so. Some people made money on the downside, but vast majority of people here cover on the smallest uptick. Few here hold short positions long term. Dow 14,000 next year seems very reasonable.