9/7/2016

SPX set about the same as yesterday; above all pivots and not quite at my target zone. Pretty close though, with today's high just 6 points from SepR1 and then more important levels above that at 2199 and 2209. NDX set effectively reached my target zone, with NDX within 3 points of the level. I'm going to say close enough. NYA is also stuck on its SepR1. 

IWM has been quite healthy and zoomed to the YR1. Honestly I did not think it would get through this so easily. In addition, XIV is soaring too with just an incredible daily RSI reading today. These are very bullish signs. 

TLT jumped above all pivots for the 2nd time this month but faded all day. 

Basic bullish from here: USA mains higher, IWM above YR1; and TLT may drop below its SepP. Basic bearish would be rejection of IWM YR1, other indexes lower, TLT and GLD up. Right now it looks like bulls have the ball. 

Even if pro sellers seem like they are on vacation this week, remember, VIX is now in 11s and this is about where they tend to show up. 

SPY, QQQ, IWM, XIV, TLT below.