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Originally Posted by coolhand

The bulls fought back on lighter volume to close with a gain today.




The 50 dma was not retaken, but it isn't far under that key average. It's possible it may act as resistance given price has been below that average for 3 days now (on the S&P 500).



Breadth ticked higher, but remains bearish.

We're just going to have to see if

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Stocks gapped open lower on Monday. I often say that we can't always trust Monday morning gaps, especially the ones on the downside, but yesterday's morning's selling and lack of dip buying in that first hour of trading made the sell-off look pretty serious. The fact that the losses were still fairly stiff into the close in most indices, despite the reversal, is a tell that this was not one of those gaps to dismiss. The Dow lost 510-points, well off the lows like so many indices, but the charts ...