It will be interesting to see where buyers step in from here. The Q's got help from the 50-day, but there's also a previous resistance level (Resistance becomes Support) going back to '08.
The SPY got support from it's 50-day, but there's also a previous congestion zone that supported price. The next level down is around $115, which would still put price at a "healthy correction" level.
The Dow seems to be creating these 200-point congestion zones. In the grand scale of things, we could get a correction back to the 200-MA on all indexes and still put in a higher low.
Meanwhile, the Dollar has some overhead resistance approaching in the form of a Fibonacci Extension confluence, as well as a previous support level (not shown).
Here's a look at the SPY vs. TLT correlation. A test and continuation of their respective trendlines was a telling sign.
