Bulls are trying to stage a recovery
There is still work to be done but indices are trying to make back lost ground from last week. If there is a concern it's that buying volume wasn't great. We will start with the Nasdaq; Friday's selling drove price action into the rising trendline, while Monday delivered a recovery. The swing high from January hasn't yet been challenged. Only the MACD is on a 'sell' trigger and it will take more than a couple of days of buying to bring this back into net bullish territory.