Yesterday, the S&P 500 turned lower from its recent downtrend (the Russell 2000 small-cap index did the same thing). If we traded strictly on technicals, this would be a short.
On the other hand, how much is due to some whackaloon shooting up the Canadian parliament. Also, stock prices seem to move in sympathy with oil prices recently. Transports sold off big yesterday, despite the fact that lower oil prices is good news for transports. So, maybe there's a bit of hysteria in the market right now.
I've put two momentum indicators on the chart to show the mixed signals.
I often use RSI for short-term momentum. and it banged its head, looking like it will turn down. That seems bearish.
MACD is better for the longer-term trend. And it just gave a buy signal.
See what I mean about mixed signals?
I was going to add a new recommendation today, but I think it's best to wait and see how this sorts out.