The SPYs traded in a range today. They opened higher, but couldn't move much beyond their opening spike. Also notice the average broke a two day uptrend in the last hour of trading and then sold-off at the end of high volume. This indicates traders are still nervous about the underlying situation.
Here's a 6-day chart. I put this up merely to put today's action in perspective. After last week's roller coaster ride today was remarkably quiet.
Here's the daily chart, which shows the SPYs are still clinging to the 200-day SMA. In other words, we're not out of the woods by a long shot.
