Just nibbled on some SPY April 20 270 CALLS based on the  support level...this may just be an overnight hold, as I can't imagine wanting to hold anything long into the weekend...

In all fairness to the bounce case: There is support on the weekly chart at the 21 ma.  Feast your eyes...

The 9,21,50 are now Bearishly configured on the 60-min SPY chart.

SPY 5-min stalling at the 50 ma all day....

GDX gets a pop as Gold recovers most loses and Silver turns slightly positive while the markets remain weak.  Could it be that people are getting smart?  Na, probably not.....

What a great day to be SHORT!

2731 also very close to the 50 -day ma...funny how that works sometimes.

Or an ABCDE triangle......

SPY 270 level lost for now...makes Wave C option more likely...imho.

The Daily Chart makes the 200 Day ma look like the first target.

Do you know of a system that picks exact tops and bottoms?  I've done very well with this signal, either as a confirmation of a move I've already made, or a buy/sell point.

13/34 Bearish Cross...A drop below 270 will further confirm the 13/34 SELL Signal.

US Steel has been particularly strong of late and had already surpassed it's pre-downturn high.

LOL!  13/34 60- MIN SPY SYSTEM NEVER CROSSED TO SELL...so much for getting chopped to death...whatever.

60 SPX points since trigger and counting.....