The market bounced back by 1.4% on Tuesday.

Now, we have our Sigma Trend Index at -2(STI).

And our breadth Index is already in positive territory.

Conclusion:

It is too early to say if current move is a bounce back in a downtrend or if the decline was only a mild correction.

Nevertheless, with the Sigma Trend Index at -2, and the breadth index already in positive territory, the bear case is in danger.

If we don't get a negative close today, we will have to move neutral.

Current position: short

Have a nice day,