Let The Charts Tell The Story
Above is the daily chart of S&P 500. For the past two weeks since the Fed announcement, it has been tagging the upper end of the uptrend channel. Yesterday's aggressive pullback pushed it back to the lower end of the channel where it found support and bounced off strongly. While I wouldn't classify yesterday's candle as a hammer (the upper tail is too long) and the market to reverse and rise from here, support at around 1530 is quite clear.
The housing index is testing its low for the 4th time. This market is really in a depressed state and many analysts expect this to drag on until at least early next year. So while it is already at a low, there is no guarantee that it won't fall further. Same for LEN, a home builder stock.