bottom, short covering? Doubtful on the former, the volume was pretty weak signaling the buying isn't there just yet.
With all due respect, if you are unable to identify which direction was the profitable direction to trade in today . . . given that the financial stocks had their best day ever in history, then you really need to go back to square one and take a basic course in technical analysis. From a most basic technical trading point of view, once above yesterday's SPX high at 1234.35 there was no longer a reason to short the market. The 10-day MA which has kept this market intact on the downside looms large off tomorrow's opening - - - just a few points away. Just the basics. Blocking and Tackling.
Not everyone trades tick by tick. Some hold for days. That being said, today may be an extension of the relief rally after yesterday's heavy selling in the early going. - as volume jumped yesterday and fell sharply back today. imho paysense
The best part of this is we will be able to ride this down again like many said here just trade it.............lol who cares up or down just love the moves