I like the pullback on this recent IPO, which is also on the IBD 50 right now. (It's on the SwingTradeBot "Top 50 Bullish" scan list too)

This is more a broad market comment than a SPY one... I see some flashes of hope for the bulls on the General Market Overview page today. First, the most "unusually active" signal today was the "Stochastic Buy Signal". Next, SPY continues to hold above its 200-day moving average. And finally, the percentage of stocks above their 50-day moving averages, while near oversold levels, is well above its February low. In fact, that indicator is making higher highs and higher lows. So the selling isn't quite as broad-based as it was back in February. It appears, based on IWM, that the small caps are holding up the best. But the market really needs to find some fresh leadership because tech is looking really tired right now. I'll be looking for some buy candidates tonight among stocks in the "Stochastic Buy Signal" and "Strong but Oversold" scans...

One of the few "Non-ADX 1,2,3,4" setups I liked today. It's undergoing a test of its 200-day moving average and just closed its post-earnings gap from two weeks ago.

Nice looking breakout to a new high for this recent IPO. I wonder when their first earnings report will be issued. I'd hate to step in front of that...

We've had quite a bounce off the lows from three weeks ago. The Nasdaq-100 (QQQ ) is just a hair away from making a new all-time high. The other major indices don't look quite as good as QQQ but they are now all back above their 50-day moving averages. (The small caps just managed that feat today.) While this recovery has been impressive on the index level, I'm a little concerned that most stocks are not fully participating. The percentage of stocks above their 50-day moving averages is only at 45(%) today (See the General Market Overview page). If you're a bull, you'd like to see some broader participation. Something to keep an eye on...