SPY Update

 The SPY has shown considerable improvement intraday from a downtrend to forming an Inverse H&S type base, which is breaking out now.

 Here's a closer look at recent intraday trade. The volume for this type of base pattern is correct.

The TICK chart is also hitting highs on the day at +1000.

Judging by sector rotation, I think Tech which is already in rotation and Financials which are just entering rotation, would be the likely leaders of the bounce. You may want to consider something like FAS for a swing trade up, UPRO would also be reasonable and maybe something like TQQQ or URTY. Keep in mind these are highly leveraged ETFs, but I think they would be good choices for a short term bounce of several days to a week or so.