2/12/2016

Yesterday I sided with yearly levels (INDU YS1 break and VIX YP clear) but said " If Friday opens with INDU back above YS1 at 15746 and VIX below its YP/1HP combo at 27.46, then it shifts more bullish." 

So bullish version, and significant action on several yearly pivots today. I've been writing about the big yearly pivots in play this week here and here and here and here and here.

Today SPY followed through with the bounce from FebS1 and reclaimed YS1, barely; although ES and SPX still below their YS1s at 1866 and 1895 respectively. It looks like stage is set for more bounce, especially with timing model some low 2/11-15, but ES will have to clear 1866 to confirm.