10/27 Daily SPY comment: "Official trouble alert today, with SPY clear rejection from Q4P and VIX confirming risk above its Q4P."

11/6 Total market view: "Bottom line - Trouble alert from 10/27 was quite correct. The conditions to lift that trouble alert will be a VIX rejection of a pivot with clear move below the level. Right now VIX is above its 2HP and not yet at its higher YP. Either we need to see a move below 2HP, or higher to YP and rejection from there. Still I think it is better to be cautious with any long attempts with VIX above 2HP.

I will start sounding more bullish on the market when we see Tech set recover above its Q4P (QQQ 114.83), RUT set recover its YP (IWM 116.23), NYA above its YP (10302), and then SPX above Q4S1, VTI above Q4S1, all with VIX and XIV constructive for risk. Until then, cash on sidelines is quite fine."

11/7 Daily SPY comment: "Everyone back in the pool!

Amazingly, not even the pros could get in (unless catching the falling knife last Thursday-Friday) with a monster gap even in globex. Everything checks out - Tech jumped above its Q4P, RUT/IWM back above YP, NYA huge jump above its YP; SPX & VTI above Q4S1, and DIA amazingly above all pivots! VIX confirmed with decent looking reversal bar below the 2HP, and XIV had huge hold of YP as well."

11/9 Daily SPY comment: "So, DIA started fractionally below the Q4P and jumped above in the first 15 minutes. VIX started a bit above 2HP and collapsed all day. The Pivotal Perspective is clear. We don't know what will happen tomorrow, but for now, the markets are quite fine. (I suggest keeping an eye on VIX Q4P from here.)

SPY above all pivots (YR1 level to watch)
QQQ fractionally above all pivots
DIA above all pivots and on verge of new highs
IWM above all pivots
VTI above all pivots (NYA bang on Q4P)

VIX collapse from 2HP and below all pivots
XIV above all pivots

Sectors of note: XLF/IYF new market sector leaders; XBI/IBB massive jump. EEM/FXI noticeably weaker however, both under Q4Ps as all 5 USA mains held or recovered."