We had solid volume by the bulls today on both the Nasdaq and SP500. Both indexes are above the 200dema so it will be interesting if today was a one day wonder or a bottom. Typically volatile moves like this will close back above the 10dema or 20dema and then have a one day close below the previous bottom.
About the only Profunds play that I see that is in a confirmed LT downtrend is REITs. RUT still needs a little more downside to go before I would qualify it as in a bear market. Last week did some significant damage though, which has increased that probability greatly.