Houston, we have lift-off

 As suspected, the 5 min 3C chart of technology is showing relative underlying weakness when compared to Financials.

 Here are financials on the 5 min 3C chart, note the difference in 3C's character between the two.

 As suspected, XLF cleared resistance.

 And take a look at the 15 min XLF chart, even in an uptrend, it's adding to the positive leading divergence on a 15 min chart! That's no easy feat.

XLK or technology intraday is fading as I suspected it would, Financials at the bottom in green are gaining so there's some sector rotation going on. If you are trading the bounce using leveraged ETFs, I would personally lighten up on the likes of TQQQ, add a bit to UPRO and FAS. All should still perform well so long as the market continues to bounce, but on a relative basis,  think the SPY will show better relative performance gong forward then the Q's and Financials will probably take over the mantle of leader of the bounce. Just to be clear, I'm talking about using these ETFs for the bounce only, I'm not making any long term or intermediate term indications, just short term as long as the bounce is alive.