As mentioned previously, there is some stabilization going on for now. The daily PPMs are showing some signs of recovery and the algos on the SMAs are slowly turning back up.
However, the weekly algos are still contradicting this short term view, with all PPMs and SMAs pointing to a sharp drop in the upcoming weeks. Of course this is subject to daily revisions as the stabilization works its way to the weekly algos.
For now though, bulls should keep their stops tight or just sit tight on their hands.