Is That It?

At least from a technical perspective, recent market action has put the correction in jeopardy.  A nice double bottom (S&P 500) was made right at support from the February lows.  And yesterday's rally put the index back above its 200-day moving average and also broke the top end of the downtrend channel that had formed.  The index appears to now have the 50-day moving average in its sight.  The correction isn't over until new bull market highs are made, but things sure look much better now than they did a couple weeks ago.