Sum
VIX correctly anticipating stock weakness, but given the close above 2HP on 11/15, even the smart money surprised by the magnitude of bounce on 11/16. To be fair VIX did drop back under 2HP and Q4P that day, but often VIX will make a clear move before stocks (just like on VIX lows & stock highs such as 11/7-10).
Currently VIX above only NovP, and while 2HP and Q4P more important market is not fully in the clear until VIX is below all pivots. XIV is more confident, so current configuration is mostly long risk.
TLT back to YP again; any higher and TLT will be above all pivots.
Pop in GLD and SLV above all pivots; GDX not making the same move.
VIX
D: Still above NovP, but RSI 70 on the high was hit hard with a drop back under 2HP and Q4P the next day. So far looks like many other good buys this year like 8/22, 5/19, 4/24, etc, with one exception - VIX still above NovP.
XIV
Only 1 day below NovP though UVXY buy near 11/8-9 did work as a hedge. Back above all pivots as of 11/16, albeit fractionally, then definitely on 11/17.
TLT
Again back to YP. Any higher and TLT will be above all pivots.
AGG
Held 2HP on low, but still under YP, Q4P and NovP.
HYG
Strong bounce from 2HS1 and Q4S2 area lows, but still below 2HP.
GLD
2nd move above Q4P; already testing NovR1. A lot of people including me were initially expecting metals down with rates up for Q4, so this is a surprise for the market. A couple weeks ago noted that though below Q4P metals were just not dropping as they should.
GDX
Still under 2HP, NovP and Q4P. This chart implies GLD may fade soon; more bullish for metals if miners are participating in pivotal momentum like August.
SLV
Above all pivots 2nd time this month, but at the same time clear resistance on NovR1.