Interesting indeed. One fishy thing is that the majority of the volume is "non-iwatch," not institutional, not sure who is who. Iwatch has never been a reliable indicator to me, but worth noting.
I can't help but think that all the red was the fed dumping all the shares they have been buying to prevent the plunge, today was a highly orchestrated "detumescense" off oversold conditions.
I think we keep running, not far, I'll leave that to the techs on this board, but his war on shorts is not over IMO.