Sum
2017 USA main index leader QQQ remains above all pivots and holding rising D20MA. Next 3 in line, SPY DIA and NYA/VTI are configured similarly - below AprPs but so far above Q2Ps. Lastly 2017 laggard IWM Q2P rejection.
So, if leader continues to hold above all pivots that is bullish. If the other 3 join QQQ back above all pivots that is also clearly bullish and likely a scenario to take off hedges and go more long. Or the other way, if QQQ breaks AprP, others are probably going lower and testing Q2Ps.
Charts
Cash index weekly charts with long term levels only
Daily ETF chart with long term & medium term pivots
Futures current contract pivots only (no S/R) and MAs for clarity of entries (now June 17 M)
Futures "1" continuous contract with the works
SPX / SPY / ESM / ES1
SPX weekly chart continues to digest the amazing post election run of about 4 months powerful up. Let's face it folks, often the digestion is longer than the power move itself, so markets could be in for a long stretch of nowhere.
SPY clear resistance at the AprP. If that keeps a lid on price then support at Q2P, and below that 1HR1 and AprS1 could help, then Q2S1 area. If back above all pivots that is clearly bullish and we can think AprR1 YR1 area, but I think the odds of this are slim.
ESM holding D50 in purple, and near test of Q2P overnight.
ES1 chart showing similar, with decent divergence lows entirely inside the daily BB.
SPX sum - High on YR1 / 1HR2 / Q1R2 cluster resulted in a 3ish week drop but not big %. Thus far AprP acting as resistance. If higher then green light for more longs; if down then test of Q2P very likely.
NDX / QQQ / NQM / NQ1
Weekly chart above 1HR2, strong.
Daily charts above AprP and above rising 20MA.
NDX sum - 2017 USA main index leader still looking incredible here above all pivots and rising D20.
INDU / DIA / YMM / YM1
INDU trying to hold 1HR1 as support.
Daily charts below AprP but futures holding tests of Q2P and rising D50 helping out.
INDU sum - similar to SPX here.
RUT / IWM / RJM / RJ1
Not a fan of patterns, but i guess that could be head & shoulders on RUT W.
Daily chart clear rejection at the Q2P, but futures show low already on Q2S1.
RUT sum - 2017 laggard below Q2P and falling D50MA.
NYA / VTI
NYA weekly trying to hold 1HR1 as support.
Daily chart below AprP, so far holding Q2P.
VTI similar.
NYA / VTI sum - These also configured like SPX. NYA Q2P part of next market tell.