Looking at the technical, today's rally is no more than an oversold rally. I do not believe these support levels will hold. The momentum appears to indicate the market is destine to fall to their June/July 2009 low. In the coming days, the market could continue to rally due to short covering and some short squeeze. After some of the shorts have been taken out, the downtrend will likely resume. In the meantime, I will continue to treat this market as a trader's market with a downside bias.
SP500:

DJIA:

DJT:

Nasdaq 100:

Russell 2000:
