What? Where are the bears? The stock market fell 4 of 5 days before today and I say there are no bears?
If you take a look at volume you will see it lower than average and for the Nasdaq still falling. That's no way to run a bear market! It is supposed to have people fleeing for the hills but January has been marked by apathy, not selling.
No doubt, the charts look kind of weak on the surface but in the absence of true selling pressure, buying the dip seems to still be a good bet.
Famous last words.