This was a roller coaster trading day despite the VIX ending lower.  What will happen when a debt deal is passed, as the President and leaders from Congress/Senate practically guaranteed a deal this week end?  After hours House leaders are out again guaranteeing enough votes to pass, but the Indices are having a muted response.  More attention is paid to the souring economy when a lousy ISM was announced this morning and European debt issues are covered by Bob Pisani on CNBC, but is it priced in yet?  Again we are stuck in oversold mode so we have to be conscience of potential 100pt rallies.  However, this huge reversal on good news certainly does not bode well for the bullish case as we continue to hang around the 200 day moving average.