8/31/2016

SPY closed just under YR1 today, while ES1 bang on the level, and SPX cash held. VIX also dropped back under its AugP. Somewhat bearish, but could have been worse, with SPX YR1 2163 near the lows of the day. 

New Sept pivots in play tomorrow, and futures are testing levels as I type. But barring a big gap, both TLT and VIX will open above their SepPs and these probably pressure stocks. It could get interesting very soon. For now watch ESU SepP at 2167.50