The uncertainty of last week, whether the major support levels would hold, is somehow put on hold. Support did hold this week. All major indexes saw a bounce off their support levels. Only China is showing mixed results and a lot of up and down - but even the Shanghai closed up for the week.
Now the new question for this week's trading: are the moves we are seeing a short-lived pullback before the next trend wave or is it a real recovery?
For the moment, it looks bullish but we lean towards the "sell again during the retest" approach. All major indexes have resistance levels above them that would make for a great "sell on the retest" trade. The most important thing to keep in mind is NOT to blindly short without a retest. For now, it looks bullish. Don't try to call a reversal too early - trade what markets give to you.