Showing weekly charts with long term pivot levels (yearly and half-yearly) for what I consider to be the 5 main USA stock indexes / ETFs:
SPX / SPY / ES
NDX / QQQ / NQ
INDU / DIA
RTY / IWM
SPX recovered YS1; SPY and especially ES have the look of lifting from the level as support. Also note lows the last few days bang on the level 1866 which I was mentioning all week in the daily SPY comments. But still below the major YP and HP levels by quite a lot. In my view, big levels definitely used for short covering, perhaps speculative buy, but no big investment buying until above at least one long term pivot level.
NDX held its YS1 exact and this was pretty much what stopped the crash. Although QQQ levels "should be" like NDX, due to the 8/24 low they are quite different. So QQQ did not even reach and YS1 level although the cash index did; and very close to recovering its YP although the case index is quite far. The futures NQ also reached YS1 and held. Bottom line some programs may check in with QQQ above the YP / 1HP combo, but anyone buying should keep sharp eye on the NDX and NQ pivots to confirm.
INDU held YS1 / 1HS1 combo and decent bar up from there. DIA almost same look.
RTY and IWM held YS2 / 1HS2 combo and now heading into YS1 / 1HS1 level which might be resistance.
Last but not least, the NYA held its YS1 / 1HS1 combo as well.
All of these, along with many other stock indexes / ETFs, held yearly and half-yearly levels in the past weeks. Most of these will open below February pivots, so we'll carefully watch the medium term levels (quarterly and monthly pivots) to assess the strength of the bounce.