Was that it?

As you will see in the video, the market still has to prove itself before we can have much confidence in a bounce. The QQQQ closed just under a prior important level of support near 38.50 and if they can get above that level and hold today, there could be a nice bounce up towards 39.50-40.00 over the next few sessions. If such a rally does materialize, it is important to remember that it is just a bounce in a downtrend. There has been a lot of damage done to the overall market and individual stocks and it is going to take some time to heal. A likely scenario is a bounce higher followed by a period of sideways action for a month or so which allows the markets to recover from the deep wound they recently received.