While the $SPY is struggling back to the upside; be mindful of the the time-of-day resumption of the overall current down trend. I’ll pay attention to the price action around 02:30pm EST or 11:30am PST. Any major dumping around that time can easily take the $DOW down another 100 points or more.
Notice the 5m $SPY chart below. There are two 79 & 89 ma that act as resistance; in other words, this rally you are seeing may be a trap…
My 2 cents.