Well two up days in a row seem to have voided the big drop on Monday (2/25) however this all seems to be a normal pull back to the 50/10 LRC lines and the volatility stops. On the Nasdaq 100 the 50/10 have crossed under bearish and the 25/5 is already below the 50/10. Unless the price gets over 2780 or the purple 50/10 LRC, this looks to be still headed south. With these wild whipsaws though, it could poke above then sell off. Who knows.
The small caps, the Russell 2000, have not yet had a complete 50/10 bearish cross but did stop their bounce at the 25 LRC and the volatility stop. A normal bounce unless it continues up and exceeds the previous high of 932, then all bets on the bear are off.