Those of us familiar with trading know that there are two main schools of thought, fundamental analysis and technical analysis. Fundamental analysis relies on looking at the facts behind an asset’s performance. These factors include any data or information that is publicly available regarding the asset. For a company’s share of stock this might include the company’s earnings per share projection or its quarterly profit/loss results. On the other hand, there is technical analysis. This information typically is made up of information that can be determined by a charting package.

Yesterday's tight action gave way to broader gains on higher volume. Tech and Small Cap indices enjoyed the best of the gains, helped by a very strong gain for the semiconductor index.

Gains in the Russell 2000 helped push supporting technicals back into firm overbought territory. Russell 2000 gains were enough to swing relative strength back Small Caps, although the long term relationship is in flux.

It was a mixed day for the indices. Large Cap indices suffered small losses on lighter volume. Tech averages made a small gain on higher volume. Small Caps played closer to Tech action.

The S&P will likely see another pass made on its 20-day MA on Wednesday. The 'sell' trigger in the MACD suggests the 20-day MA will not be support, but while the index is above this moving average it's offering a (somewhat weak) buying opportunity.  Non-MACD technicals remain healthy.

Buyers were prepared to come in from the sidelines, doing so with heavier volume accumulation. Bull traps remain an overhead supply concern. The Nasdaq is the index most likely to challenge this supply first (possibly tomorrow).

The real winner was the semiconductor index. It was able to recover with a bear trap, regaining 388 support. It's first level of supply to overcome is its 20-day MA at 401.61, before the 50-day MA comes into range.

In Globex so far. High volalitet keeps running and gives tendemous movements.
24 hours ago we saw something which indeed smels life flashcrash since it didn´t even close or stop for US official closing as chart shows but went far, far much further with SPX futures during the asian market session. 
Very late, just before hour or two before euromarkets opening it finally stopped it deep plunge. At that time 1 &5 & 15 minutes charts offered bullish divergence while hourly was at extremes and daily, weekly and monthly looked alike still trend bearish.