Just like on Monday, there were a ton of bullish candlestick patterns made yesterday. This time there were a lot of harami and bullish engulfing patterns, and even a few morning stars. Yet, the prevailing trend on the vast majority of those stocks is still down. So I think it's still wise to leave those downtrending stocks alone until they're back in shorting position.
More Bullish Candles
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I still like the Vix for measuring market sentiment ... if the trend is still down the Vix at some point will have to take out its March high, which means we've got some more selling to do before a real rally sets in.
Looks like you got your snapback rally and a possible double bottom (after Monday) to boot. Was the bump strong enough to make a believer out of you?
It certainly confirms that we'veput in some kind of bottom, but I still don't see much I'd want to buy. There's still lots of overhead resistance to chew through