From 8/16: "Watch those YR1s on SPY and ES1." Yup, those levels held near exact. I also mentioned the VIX AugP yesterday and that held too.

Sentiment per ISEE was quite bearish for most of the day, which means too much fear too fast for just 2 days after the highs. And as per this post, it is hard to remember such a slew of well publicized top callers.

For now I remain constructive on longs and hoping for the ideal target levels across indexes that I have listed in the Total market view posts the last few weeks. But GLD is zipping overnight and TLT also looks decent. I'll be more concerned about stocks if TLT recovers its AugP.

SPX set below, and VIX for kicks. I've said it before, will say it again, pivots on VIX are just peaches and cream.