Our ride to the moon is temporarily cut short by Nasdaq again. :-(
Check this out.
A big uptick would indicate short covering rather than panic selling. Short covering would make for a weak rally. Just enough so that all the short sellers could reload for the next push down to 1550. A big downtick would indicate that a more lasting bottom is probably in place and that a decent rally will occur.
So, I'd rather be a chicken than a turkey.