Whilst the main market managed a moderate bounce, there was severe weakness in Sears Holdings (SHLD), which imploded by -12.3% to settled at $7.98. The stock is at historic lows, as the mainstream recognise the company is set to disappear.
SHLD, monthly, (linear scale)
SHLD, daily
Summary
The ongoing story of Sears is more of an academic curiosity than anything related to trading opportunities.
Most have begun to accept that the glory days of retail - via shopping malls, are now long past. The 1980s was arguably the peak, with a lesser burst of interest in the 1990s. With the turn of the 21st century, and the rollout of broadband, online shopping finally became a reality.
Sears - like almost all other retailers, has adjusted to some extent, but its still not been enough.
Whether Sears can even survive as a 'going concern' really doesn't matter. What does matter is that other retailers (M, JCP, JWN) keep pushing to adjust to a more online method of selling... or they won't likely survive either.