Is this just a correction to the correction? A question to ask for the Dow Jones

There is no doubt that the US stock markets took on board the flimsiest of excuses to forge higher yesterday. The fact that the latest US jobless claims data was all that was available to influence the price action is indeed spurious. However, as mentioned before the data was released; it could have a bigger than usual impact in the absence of anything else for the markets to latch onto. Well, it sure did that and looking at the price action we can see low rates of participation and low volumes too and that is not a sign the whole corrective move lower is yet done and dusted. Of course it might be, but the question right now in terms of the moves we saw yesterday, is to ask if the gains seen were just a minor correction to the shift in direction (lower), or they define that the slide is now over and done with? That is a hard one to answer right now, but doubts remain here. Meantime, the Dow Jones was the weakest of the 3 major indexes, but it still piled on 683 points, closing at 39,446. A detailed look at the technical picture was provided yesterday and there will be more to add later today. Meantime, the index is just now priced to reopen at 39,500