2/7/2017

A few minor changes to pivot status that seem to balance out. DIA tried to clear FebR1 but didn't, yet closed so near the level that I cannot call it a rejection. QQQ lifted above Q1R2 which is a sign of strength; but IWM closed a bit under the FebP. If Wednesday opens with stocks lower, TLT up, VIX up, etc, then IWM is a first choice hedge below the FebP while allowing for other exit decisions later. 

No change to VIX and XIV; TLT managed to close slightly above FebP so that is a level to watch tomorrow.

The notable move was in oil as hinted in the last Total market view: "Interesting that oil hasn't benefited despite $USD weakness." In other words, if oil could not rally with DXY down then DXY stabilization would probably mean oil lower. 

SPY and IWM below.