Yesterday's bullish developments were quickly undone by a drop back under Q4P on SPY and VTI.

Per the latest Total market view from 10/22 on the blog: "Therefore, I think some bounce attempt is the next move. Even if SPY, DIA and VTI can clear Q4Ps - which would be a bullish development, basically taking away the Q4S1 targets for now - I still expect upside limited to OctPs."

The way this played out was bounce above SPY Q4P, with a high on the related variation ESZ contract OctP. So the sum above turning out pretty well.

Back under Q4P on SPY and VTI again puts Q4S1s in play. IWM is back testing the level near exact, so this will be an important tell for Wednesday in addition to ESZ Q4P at 2134.

SPY, ESZ and IWM below.