Nasdaq Composite Technical Analysis

I was just chilling and looking at charts, so I decided to do a technical analysis of the $COMPQ, Nasdaq Composite. It would be funny to see how much of today's buy-volume consisted of short covering.

Judging from that chart alone, I am still completely bearish on the markets. Markets will be bearish until it can close above the short-term consolidation channel. Please check out the stock chart.