Art Cashin on CNBC who has been around for many bottoms played out a scenario last week where we would be down hard Thursday (-283) followed by a mediocre Friday (+21)..then down hard today and a capitulation reversal tomorrow. So far its playing according to plan.

Meanwhile the mlp index is up 3 points on the day. Go figure. Somebody ring a bell?

Or maybe this Reuters story over the weekend is a sign of a bottom in mlps. Its not often you see a story where they tell you to stay away!