What a week. SPY started with a massive gap down and instead of starting just under the JanP as it appeared on 12/31, it was already below the Q1P as well. After 2 days of holding the YP / 1HP combo, on Wednesday the market opened lower and these levels acted as resistance. Then you knew it was real trouble. Just 2 days later, SPY has already reached Q1S1 as did a lot of other indexes today. But as I have said many times below the YP targets the YS1 on the year which is 186.25. This is very good bet to make, historically speaking, unless the YP changes status.

QQQ near its YP (although NDX and NQ are already well under YPs; this is aberration due to 8/24 spike). DIA on Q1S1, IWM already on YS1. That was fast and those at screens on 12/31 or simply seeing trouble this week had decent hedge or short on that. NYA isn't quite down to its YS1 yet but getting close. Still, with this many indexes on major support levels (ie Q, 1H, Y) better shot at short term bounce.

SPY Q1S1
QQQ YP, not sure how much this counts
DIA Q1S1
IWM YS1
NYA JanS2, already below Q1S1 but above 1HS1 / YS1