Maybe today's reversal was the end of the decline. The McClellan Oscillator has moved in a small range for the last two days and this type of behavior usually precedes a strong move, one way or the other. That was what occurred today, unfortunately we started from a huge down gap before rallying. Whatever, change your underwear and get ready for some upside action, assuming of course that we're through crashing.
I still feel there is the need to complete a retest of the current low zone with the 10% component staying above the lower limit of -500, something which could occur within a week or get dragged out for a month. Once that is complete, the upward rally should continue to new recovery highs and confirm the bull market status. (i.e. higher lows and higher highs on the intermediate term)
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