After the Fed driven sell-off that delivered support breaks for some of the indices there was an attempt by bulls to stage a bounce, but traders weren't able to build on the sizable opening gaps, and some indices drifted lower by the close.

The Russell 2000 ($IWM) lost the most ground off the open. However, today's close was enough to regain support, leaving yesterday's action as a potential 'bear trap'. Technicals are net bearish oversold. And today's buying volume was below yesterday's selling (distribution).

The S&P finished the day where it started, which is also 20-day MA resistance. Aggressive traders could go with a swing trade as the next move could be sizable (particularly if the move is higher).

The Nasdaq is dominated by the trading range, but within that we have a consolidation triangle. As it stands, the index is at resistance of this triangle, and given recent selling volume I would be looking for a move to close today's gap higher. However, a break of resistance could deliver a nice surge - so we may have another swing trade opportunity.

Bitcoin has edged its way back to former support - now resistance - and is well placed to deliver a spike high tomorrow. If this was the case, the next move would be down towards the 50-day MA. Again, I haven't changed my bullish outlook, but in the near term, a move lower would be welcome.

We are seeing some volatility creep into the markets, and indices at resistance are at a logical point for some selling to bring indices back towards a test of yesterday's lows. Having said that, a break of resistance would drive short covering, that in itself would boost demand for investor buying, and together would offer could option swing trade opportunities. Long term investors could stick with Bitcoin, and maybe look for a bargain on a move back to test the 50-day MA.

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Investments are held in a pension fund on a buy-and-hold strategy.