SPY back under all pivots, joining ES and SPX that stopped at the FebP yesterday. This is bearish. That said, it might have been a low volume pause. Current USA leader DIA is still above the FebP, along with YM, while INDU is fractionally below; too close to call. NYA also is below the FebP but small range bar suggests pause instead of smackdown.

Basically, we don't have the clearest signal to pile on re-shorts for USA stocks. Adding back the safe haven trades today, TLT or GLD if trimmed (site rec was to hold all GLD above 114), would have been the better move. Let's see what happens with FebPs tomorrow.