Buyers stop the rot but damage done
Today's recovery has offered the potential for a bottom and the end of the decline from March highs, but it leaves lead indices vulnerable to the undercut. One day's buying does not necessarily equate to a reversal, but today's action will give aggressive buyers something to work with (using a loss of today's lows as a stop). Best of the action was the S&P as it ended with a bullish hammer, but reversal candlesticks need oversold momentum to strengthen their credentials and we don't have that here.