Is the bounce gone, or was there ever a bounce to begin with?

After the Gallup tracking poll came out last Friday afternoon showing Obama's lead widening to 6 points from two points, I noted that we were seeing the first signs of what might be considered a "bounce" for Obama. Coupled with an up tick in Rasmussen's tracking poll on Friday, Obama's lead in the RCP National Average moved up to 4.8%.

Obama's lead extended to 5.0% in the RCP Average over the weekend as Gallup's track went from 6 points on Friday to 7 points on Saturday and 9 points on Sunday, while Rasmussen ticked up to 6 on Saturday and back down to 5 on Sunday.

What a difference 48 hours makes. With the release of the Gallup/USA Today shocker yesterday afternoon showing McCain leading by 4 points among likely voters, coupled with Rasmussen tightening down to just a 1-point Obama lead today and Gallup's tracking poll falling back to 6-points, Obama's lead in the RCP National Average is back down to 2.5% - the tightest it's been since June 7.

P.S. We should be looking at a couple more polls this week which will add to the picture of where the race stands after Obama's overseas trip.