Wow - market continues to humble anyone who starts to think about a pullback of more than a few days and few %s. While I did expect a bounce yesterday, I thought it would be weaker move.

Though gains were impressive it is not a total victory as the resistance areas I have been pointing to are still in play.

SPX/SPY - back above YR2 and 2HR2, definite positives; at Q4R1
NDX/QQQ - testing YR3!
RUT/IWM - still under NovP, near 2HR2
NYA - still under NovP

VIX dropped below 2HP, also a definite positive, but fractionally below Q4P. 8/22 was different, with a drop that fell below all pivots. Similarly, XIV closed fractionally above NovP but not with look of support.

Had I been convinced of bull case I would have pounded table on buys yesterday - oh well. Keep in mind that VIX had closed above a long term pivots for only the 7th time this year and I thought a deeper pullback was in the works. From here watching levels above, especially NDX/QQQ YR3.

SPY, QQQ, XIV below.