I have to admit I was expecting more out of today’s market bounce. And heading into the last half hour, it looked like we were going to get exactly that. But either the bears are too excited to pounce on a day’s gains or the bulls are to nervous to hold their rare one-day gains overnight. The key tomorrow will be for the bulls to add on to today’s gains. If it doesn’t then we could see many more consecutive days of selling as the bears seem to be beaming with confidence and unless the bulls can break that confidence or at least make them doubt their strategy, then this market isn’t going to bottom anytime soon.

Here’s the Nasdaq and S&P charts…