From 12/10: "This is the 3rd day in a row that DecP (small orange dots) has acted as resistance for SPY. This is short term bearish and points to DecS1 (small green dots)."

Ugh, to DecS1 and even lower. While pivots may start to wane in influence with total changeover to new yearly, semi-annual, quarterly and monthly pivots as of 1/4/2016, the next support on SPY other than weekly levels is much lower at DecS2.

What's more, IWM and NYA both returned to the status of below all pivots, while QQQ gave up the status of being above all pivots. Right now, the only asset ETF I see above all pivots is TLT - somewhat ironic before a rate hike! Still, that's bearish for stock index ETFs.

Of larger concern is whether 2016 opens above or below the yearly pivot. More on this soon in my next blog post.