RE:dead cat bounceIf history is any indication this correction is not over. You have to have some up days so people will think the correction is done, but nothing to me indicates anything positive has happened in the world economy.
U.S. Oil reserves are up significantly, gasoline down. However refineries are biased towards making heating oils so I'd expect gasoline inventories to drop short term.
Volitility will likely continue for the rest of the year.