Toni Hansen will be focusing primarily on intraday price moves into the early part of the week with few overnight holds.

The bias in the market on the daily time frame remains bearish, so Tony Hansen will be looking at upside moves from a short-term perspective only.

Toni Hansen expects the lows made on Tuesday to hold.

On Wednesday Toni Hansen is anticipating continued corrective action off Tuesday's lows, but with greater back and forth moves on the 30-minute time frame, as opposed to one swift upside continuation.

The indices chopped back and forth throughout the majority of the session with the tech-heavy Nasdaq leading downside momentum. This is creating that build-up at the daily support from previous lows and is allowing for the market to correct from Friday's extreme downside move.

Heading into the new week, the market is still favoring the bears.

The market took a turn once again on Thursday, but the S&P 500 and Dow Jones Industrial Average vastly underperformed as compared to the Nasdaq.

Although the market has room still for some slightly higher highs on the 60-minute time frame, Toni Hansen continues to expect more of a correction into the weekend.

The combination of a favorable price level, given the technical aspects of the market, and the release of intraday news allowed the market to once again surge higher.

A week of choppy trading seems likely as a whole.