Nice hold of JanP by IWM, and QQQ higher. This is bullish. DIA faded, SPY & VTI flat. Mixed action and I don't have a clear read for Wednesday. If betting on VIX & XIV, then still slight edge to the stock bulls - but it wouldn't take much to undo it.

But what I do think is that the re-balancing moves we have seen thus far: TLT and GLD up, global stocks up, tech notably outperforming - are about done at 6-9 trading days into the new year and quarter. This means I am thinking safe haven high here already in or soon. Let's see.

SPY, IWM, GLD below.