Yesterday's daily comment noted that although SPX looked bullish, 3 other USA main indexes were bang on resistance so the next move could be either way. It was a nasty day but there were a few bullish tells on the close:

DJI held MP exact with a huge rebound
RUT also held MP, though with less of a rebound
VXX stopped cold at MP and dropped

On shorter timeframes, several WS2s held at the lows.

As I type indexes are green overnight.

However, let's not dismiss SPX partial YR1 rejection, RUT again having trouble at YR2, NDX cluster rejection and NYA again back to long term support.

In sum another bounce in the works but this may not yet be the end of a congestion period - which would be totally normal for August.

SPX, DJI and VXX below.