Despite my bias and high ISEE warning post yesterday, so far all is resolving in bullish fashion and I have to respect that. On this post I listed things to watch to help decide whether major low is in. Let's take a look at that list.

1. SPX cash YS1 at 1896, plus NYA YS1 at 9350. Both cleared.

2. Oil. CLH6 held the YS1 after recovering on 2/12. the new J contract the same.

3. Short term levels. SPY, QQQ, DIA, IWM all opened above their weekly pivots and had no trouble at WR1s, which opened the door to WR2s.

4. VIX closed below its FebP today, looking even like resistance.

Additionally, the safe havens that exploded continue to fade.

So what to do here? If respecting the strength of the bull, you could add on the INDU / DIA and hold above the FebP. There were also buy suggestions on RSX, EWZ and EEM over the weekend and yesterday which had nice pops today.

From here watch SPY, ES and SPX FebPs at 192.21, ES 1925 and SPX 1930. SPY closed fractionally above but ES had clear resistance on the level, and SPX is just under it. Above the FebPs across the board would be bullish and be a long add possibility; a clear rejection, however, would keep original bearish bias intact meaning caution on recent longs and ready to add back shorts. We'll see what happens tomorrow.