here’s a fairly simplistic take on the market.  these are 120 minute line charts of the SPY & QQQ showing that both of these key index etf’s remain in a bearish technical configuration.  however, if both indexes were able to move back above those lines, that would be an early indication that the downtrend is most likely in jeopardy.  these aren’t hard lines that single-handedly determine the current near-term trend of the markets but they do warrant monitoring IMO.