The market tends to reverse after the initial Fed action.
Short sellers trying to set positions at resistance levels are getting destroyed.
It's tough to find the low-hanging fruit.
Working capital was more eager to chase than to play defense.
Technicals still point to lower highs, followed by a vigorous downswing.
The reversal aligns with technical indicators.
Good vibes continued through Tuesday's U.S. session.
Short-term technicals say the recovery isn’t over.
The bounce did little to repair broken technicals.
Accounting forces likely to dictate price action into the weekend.