9/29/2016

Things you don't want to see when you are long:

YR1 rejections (SPX set, RUT set, VTI already in process)
Q3R1 rejections (INDU set, NYA)
Monthly pivots acting as resistance (all USA mains except NDX)
VIX jump

On the plus side, safe havens are not the strongest (both below SepPs) and market leaders (Tech, semiconductors, biotech except for YP, FXI, EEM, RSX, EWZ etc) still above SepPs. Also, as of Thursday close the weekly SPX bar looks more like pause than rejection. So, maybe the threats pass. 

But jeez INDU quarterly chart looks like a screaming sell here. 

SPY and IWM with long term levels only for clarity; and INDU quarterly chart (with grey lines at 2015 price and quarterly close highs) below.