The Nasdaq did give bulls some reason for cheer with its defense at the 50-day MA:

The Russell also reversed before reaching its 200-day MA:

But the SOX flashed a weak 'spinning top' and lost its 50-day MA in the process; this is bad news for the Nasdaq and Nasdaq 100. This looks ready for the 200-day MA.

The problem for bulls is reading too much into the late afternoon rally; a break of Monday's lows could see a series of quick losses emerge.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.