I'm bullish for the rest of the week and looking to get out Friday.  However, I only have a moderate long position and I'll remain vigilant and ready for heavy reverse if the bottom trend line is broken.

S&P hit expected bottom:

Cycle is due:

Global S&P not looking quite ready to drop.

S&P sectors via SPDRs.  

Financials and energy not looking ready to fall.

It seems like these would show more of a definite topping process if we were going to fall through the floor.

Flag

Flag

Large pennant, or symmetrical triangle 

Channel

If all of these tried to make a move up and that ended up being very weak, then I'd say they're ready to fall.  To me it all just doesn't seem quite exhausted yet.  We'll see.