The drop in volume may be helpful for the Dow; it could signal sellers exhaustion but it's not a convincing argument.
Breadth indicators suggest some more downside is needed before we bounce
If there is a glimmer of light it's that the next rally will be a big one - the problem is it probably won't stick.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website