It looked like a good setup for capitulation bottom for short term bounce was on card today. But the market has recovered from the negative bias pre market itself.
The RSI2 kind methods point to a bounce here and today the market might oblige. The tech stocks , leading to the downside seem to have priced in all the bad news temporarily and are positive in light of earnings miss.
This sets the market up for possible short term bounce..
The million dollar question will be whether the bounce has breadth....