The markets decided to make another step down to lower levels, but in the second half we saw some recovery. This is not uncommon in down trending markets. A few down days may be followed by a strong up day, but it's not the most favorable bet to make. Since roughly the half of December the sma20 and sma50 on the S&P 500 have turned downwards and it's going to take a lot of effort to turn that around some day. For trading the S&P 500 tomorrow, Friday, February 12th, the Greed and Fear indicator is taking a neutral position.