Here's the New Stock Market Playbook

NEW YORK (Real Money) -- Over the past four weeks, I have suggested that the complexion and character of the market is changing.

My baseline expectation is that the U.S. stock market is morphing from a one-way market toward a two-way market.

Over the past 12 trading days, there have been eight triple-digit moves. In the past 31 trading days, there have been 11 triple-digit daily changes (five up and six down).

A market without memory from day to day could continue for some time.