From 2/3: "But still SPY and ES are below all long and medium term pivots, so it will have to rally back above the FebP to confirm the strength of today." And that is about where the rally stopped, poking above the FebP on SPY but falling back under with the level acting as clear resistance. The ES didn't even make it to its FebP at 1925.

What continue to show major strength are the save havens TLT and even GLD getting in gear. See the blog for posts on gold, the most recent being today. But in stock index / ETF area, DIA managed to close above its FebP for the second time this month (meaning obvious choice for any stock longs playing the bounce). Let's see if others can join in or if DIA fades back below. SPY, ES and DIA charts below.