Prior week: "Last week: SPX YR1 again rejection; NDX 2HR1 support; otherwise all indexes formed lows on SepS1s or S2s. Only tech set back above all pivots; all others under SepPs."
Last week: SPX set divided with 2163 key level; NDX still strong above all pivots and not at major resistance; INDU set continuing downtrend from YR1 near tag, and recent high on Q3R1 / SepP combo; RUT back to YR1 for test and so far not above; NYA/VTI also more in bearish camp with earlier August high on VTI YR1 and September high on NYA Q3R1 / SepP combo.
Sum
Several yearly resistance areas back in play. One can go weeks or sometimes months between seeing these and what happens here often defines the next major move. Cases in point: YS1 area on 4 of 5 USA mains, and YS2 on RUT, for the lows of the year in January and February; recovery of YPs in March, shifting back bullish; the hold of YP area on Brexit drop; the rally up to RUT and VTI YR1s for the highs of the year with near tag on INDU YR1 as well.
So now we are watching SPX YR1 2163, RUT YR1 1261; and to some extent the SepPs that broke or acted as resistance on 9/22-23 move on SPY, DIA and VTI. Second moves are often definitive and this will be the second time SepP "looks like" resistance on these 3 charts. And if you have a handle on all that, soon new Q4 & October pivots too.
SPX / SPY / ES1 / ESZ
SPX sitting right on YR1 2163. Although it had a fractional close above the level, it does not have the "look of support" and in fact still looks more like resistance. SPY and ES1 both clear rejections from bang on YR1 level. Only ESZ has different configuration, with YR! recently holding as support along with D100, but recent move above SepP is in doubt. Bottom line SPX 2163 huge level because anything under that looks like real rejection from yearly R1 on 3 of 4 of these variants.
NDX / COMPQ / QQQ / NQ1 / NQZ
These weekly cash index charts look like they could go a bit higher and tag YR1 & 2HR2 area resistance. NQ1 YR1 version is just a bit closer. NQZ just went from 2HR1 support to near 2HR2 resistance (look for red dots).
INDU / COMP / DIA / YM1 / YMZ
INDU still in downtrend after near tag of YR1; COMP resistance bang on level. DIA and YM futures charts all show resistance at SepP, and 2 of those include Q3R1 as well.
RUT / IWM / RJ1 / RJZ
Back to YR1 with highs quite close on all variants except the Z contract.
NYA / VTI
NYA between long term levels, but rejection from Q3R1. VTI highs on YR1 and now 2nd time under SepP.