Update

If you look at the charts I posted with the gap line support, you can see right now those are being tested. More importantly, the EUR/USD pair has hit a zone of support, the two are trading right now in near synchronicity. The main way to tell what kind of shape the market or stocks themselves are in will be through 3C divergences, volume and price patterns, especially major price patterns and reversals that complete engulfing patterns. CAT's daily chart is a god example, a big engulfing bearish pattern and huge volume.