Some traders call it a dead cat bounce, others call it a snap back. The bulls would like to believe the lows are in and it's off to new highs we go.

There won't be any new highs anytime soon, but there could be more rally in the northern direction before another leg lower emerges.

In tonight's episode, we'll review the major markets such as the S&P500, the IWM which represents the Russell 2000, and we'll also look at a variety of charts from a technical perspective.  

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