First upcoming test for Friday is the 50-day MA with the 20-day MA not far behind.
The Dow kicked in at once was considered support for a reversal head-and-shoulder pattern. But technical weakness continued.
The Russell 2000 made a similar stand as the Dow from a slightly stronger technical position:
So far, all of this looks like a rally to define upper ranges of channels; channels to test November lows.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website