while the market’s recovery from the lows this morning is stronger than i expected, it appears to be anything but broad-based. seems like a select few mega-caps like AMZN and AAPL carrying most of the weight of the NDX, which is basically the only index to go green today.  declining issues outpaced advancing issues by a wide margin.  the nasdaq comp, SPX, RUT, etc… all traded red today and the RUT/IWN made a valiant, yet unsuccessful bid to reclaim that seeming bullish (at the time) breakout yesterday.  bottom line is that all of those rising wedge patterns posted yesterday have clearly broken down and the market remains on sell signal commensurate with those time frames (i.e.- a short-term sell signal).  again, i was somewhat surprised that we didn’t close down more that we did but we’ll just have to wait to see how the rest of the week unfolds before determining if those patterns will just produced very quick counter-trend trades based on the intraday charts or if they will possibly prove to be the beginning of a much deeper correction that spills over to the daily charts. updated 60 min chart below…