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Originally Posted by coolhand

The market fell hard at the open today, but the bulls immediately countered and eventually turned price back up. It took the entire trading day, but the bulls did close the market mixed, which was a victory in itself.




Still no serious technical damage, but are the bears done? They might be (see below).



Breadth ticked higher on the day and

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After Monday's big rally, we have now seen back to back moderate losses in the indices which, given how far stocks have come since the late September lows, is not the worst thing for the market to see at this time. We did see a couple of double top pullbacks in some charts, but that's all typical action and so far there hasn't been any damage done. The Dow lost 166-points on the day and the losses were fairly equally distributed among the indices, although the Transports actually had a solid positive ...