On Tuesday, the market flexed its volatility muscles as the bulls won an intraday arm wrestling match with the bears. In the morning session, the Nasdaq had declined almost -2% (-108 points) when the bulls took over. By the time the market closed, the Nasdaq was in positive territory. 

The Nasdaq rose +11 points (+0.29%) and the S&P gained +12 points (+0.68 %). The Dow  joined in the rally for +89 points (+0.55%). Volume was above average for all major market indices, making this a broad-based advance with strong institutional participation. Advancers held a 9-to-6 advantage over decliners, and up volume beat down volume by a 9-to-5 margin. 

The Nasdaq's low of the day came within 4 points its 200 SMA, so today's action is considered a bounce off of moving average support. The Nasdaq also tested below the 4 February swing low and closed above it. These two actions mean the market's attempt at a correction reversal has begun.