6/7/2016

SPY nearly tagged JunR1 today, coming within .50 which means about 5 SPX points. DIA and IWM reached the levels and rejected. VIX has made a large reversal bar. I would prefer to see more than monthly levels on a major top, but for now the picture is a bit mixed. 

The key point will be if RUT / IWM and XIV hold above their YP, and if VIX stays below all pivots. If so, bulls remain in command despite today's toppy looking bar. 

SPY and IWM below.