In ninety minutes the market has recovered just about all that it lost yesterday. Although I see this move as part of a complex retracement of the bigger trend, it makes today's step back in our positions no less painful. The take away from this entire week is that volatility is back and it goes in both directions. The bigger trend is lower, and as we know by now it's not going to be a straight shot down. This speed bump is there for a reason, but soon it will be in our rear view mirror.
More on the next turn lower in tomorrow's Weekend Update.