The market was getting very compressed, as I discussed yesterday. Today some of that pressure got released. But I don’t think this a lot for bulls to celebrate.
Patterns haven’t changed. The market is still fighting some strong downward momentum. And the S&P 500 is in a solid resistance zone.
Also China’s Shanghai Composite Index took another hit. I go into all this in the video below where I also look at FEYE and TWTR.