9/19/2016

If I look at the 5 USA mains and tally bullish/bearish developments, I'd say mostly bearish today as SepS1s acted as resistance for SPY, DIA and VTI. QQQ the leader faded; IWM did reclaim SepP which is bullish but lost a lot of gains. Let's not forget NDX 4816, the 2000 top. 

Turning to safe havens, TLT below YR1 which at this point perhaps adding down pressure to stocks. VIX small up bar not sounding real alarm yet, and XIV higher more positive. 

So not much to conclude. Markets on hold for the big event. If you are bearish then oil is below all pivots via USO and current contract, and below 3/4 pivots on CL1. EFA is one of the weaker indexes, below YP and SepP. 

SPY, NDX (red line 4816) and USO below.