It hasn't been pretty, but it has been effective as both the Nasdaq and S&P 500 have so far managed to defend the breakouts from their September lows.
Although the price has been favorable, intermediate stochastics [39,1] have remained on the bearish side of their respective midlines.
The Russell 2000 (IWM) had the best of yesterday's action, but it has yet to confirm the swing low like the S&P 500 500 and Nasdaq 100 indexes.
Volume buying didn't register as accumulation, which was a little disappointing given the solid white candlestick. And while edging a close above its 20-day MA, I would want to see some follow-through today. 
There is one metric I have noticed that could spell good news for bulls and that's the relationship between the Percentage of Nasdaq Stocks above their 50-day MA and the Nasdaq Bullish Percent Index, now on a 'buy' trigger. 
The last such signal in May saw some solid upside for the Nasdaq. I would be looking for another round of gains for the Tech index here.