The SPX lost about nine points today, tested the 20 day moving average but then bounced to close above it. Essentially the markets in general bottomed about 10:30 then managed a slow move off the lows.
Three was some very good action in biotech today even though the IBB itself was only +0.65%, Stocks like CLDX, ICPT, PCYC and NLNK had stellar moves. After the close it was disclosed that JNJ is in late stage talks to buy PCYC. The later jumped $20 in aftermarket trading.