11/27/2017

No change of pivot status to the main indexes, though notably RUT/IWM looks more like rejection at YR1 and VTI looks like some rejection of near YR2 tag. 

VIX and XIV are still supportive of risk, though TLT held its YP again and GLD continues above all pivots. HYG also broke down below its 2HP, so below 3 of 4 pivots (only above YP). This has been fairly good leading indicator.

There was also some bearish action on various emerging markets and sectors: FXI NovR2 area top and today 2HR2 rejection so that looks like time for a hedge, and EEM NovR2 top. In sectors, XBI YR2 rejection; SMH fell back under NovR1 so taking a chance on another hedge as well; XLE YP rejection too. 

Still, main indexes are fine as long as QQQ is holding above YR3, no rejection on DIA and SPY is trading above YR2, and VIX and XIV remain calm. 

SPY, FXI, SMH and TLT below.