A huge bullish reversal after an opening sell off leaves things nicely set for bulls tomorrow. The media attributed a recovery in oil prices to market gains (a rare attribution for oil prices!), but whatever the cause it was a big intraday swing.

The S&P spiked through 200-day MA support on heavy volume accumulation. Other technicals are net bearish, although the index is enjoying a relative performance against Small Caps.

The Nasdaq also spiked low, but not at major support. Although it wouldn't be hard to pick a swing low from previous scrappy trading to mark a support level.

The Russell 2000 also finished with a spike low. However, it did so inside a trading range - enough to readjust support to mark a possible bullish ascending triangle. Technicals are negative, and the index is underperformig relative to its peers.

If there is a disappointment to today it's that rallies jumped before markets had a chance to really become oversold. However, such wide range action is common at key lows and is common with capitulation, so it needs to be respected. Tomorrow is a chance to push on, but will Greece/China allow it.