On Friday, my Nifty-50-Stock List had 42 stocks on sells. That usually marks either the bottom of a swing or the beginning of a swing bottom
Despite the bounce today, I still suspect there will be a retest sometime this week before a real bottom can be determined. If the retest succeeds it will likely be the start of a Christmas rally that could once again challenge the index highs. If the retest fails and the bears rip the market down from this bounce it could be the signal that a bear market is beginning in earnest (a Fed decision this month may be the final catalyst).
As always and like everything in the market, we will see one or the others in the fullness of time.
(click on chart for a larger image)