Charts

Normally, considering the base in place, the HYG support and the ridiculously oversold condition the market was in just a few days ago, I'd say we have plenty of gas in the tank for more upside and in fact I would still say that, but something seems to have changed and seems to be pushing toward a premature end to this bounce.

 SPY 1 min, note the change in character today vs the rest of the chart.

SPY 3 min

SPY 5 min  shows there's still more gas in the tank

IWM intraday change

IWM intraday change

And showing there's still more gas in the tank- 5 min

QQQ 1 min looks the worst, no confirmation at all.

The 3 min has started leading negative

And the 5 min again shows there's more gas in the tank, but if things keep moving at this pace, it may not be long before these charts are fouled as well.