What a day! Today started off as a huge down day with the market shaving roughly 230 points in the first 5 minutes. We then start seeing an uptrend forming with a Euphoric taste to it. 
Let’s look at the chart below:
The Annotated chart tells the story of how we started with a 230 point drop. You can see at about 12:45PM that we hit our low of the day under 11650. Shortly after that we start to see higher highs a higher lows meaning an uptrend was forming. This uptrend was a Euphoric Uptrend that I did not anticipate. The Dow ended the day with a close of 12270, a 620 point intraday move!
Today was truly historic! We want to becareful as this was 1 days action and as we see in the daily chart below, we are still in an overall downtrend.
We should look at what the markets should have in store for us in the next few days. Remember, the FED meeting is next week and we should anticipate highly volatile days to come.
Conclusion: I’m still bearish
Be safe!