After huge sell-off market seems to be digesting the earnings and reasonably stuck in a range.
Good thing is we have clear levels to trade
Bad news is for those who shorted at the recent lows...or day traders who expected more volatility to continue.
best course is to wait for the direction either way before making a move.
trend is down, and with no signs of higher high, we go lower..way lower. Which remains a big risk to be long at these levels, so better to be positioned short with smaller size.