Markets were mixed on Tuesday.
The S&P 500 rose 0.6 percent but the STOXX Europe 600 fell 0.3 percent.
Earlier in Asia, the Nikkei 225 jumped 1.1 percent but the Shanghai Composite fell 0.4 percent.
Some analysts see optimistic signals in the charts.
John Kosar, the chief market strategist at Asbury Research, said an increase of put option volume compared with call option volume is reversing from a level that indicates maximum bearishness to one that represents a more upbeat outlook for US stocks.
According to Kosar, this is one of the clearest signals that a bottom in the market has been achieved.
Jonas Elmerraji said that negative Octobers tend to be followed by big rallies in the months that followed, so last month's selloff “could actually set the stage for a path to new highs in the months ahead”.
Similarly, JP Morgan's head of global fixed income and U.S. equity technical strategy Jason Hunter said “this is a late-cycle correction and not a bear market” and is “confident that the market is going to head higher into early next year”.
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