Power move continues with SPX lifting above long term resistance, and SPY joined in despite its the ex-dividend move on Friday.

If we see selling after FOMC it won't be the first time but right now all risk trends are up. Additionally, XIV pause at resistance no rejection; IWM SepR1 test pause no rejection.

On the flip side, VIX twice dipped into 9s to close above 10.

Best guess from here is rotation theme - financials, small caps and maybe oil perking up, tech and maybe global leaders tech and China weakening somewhat.

Total market view suggested move to buy into financials if TLT broke its YP is working very well, best move of the week across most asset classes so far. Oh yeah, out of GLD from buy rec 7/11 and sell rec 9/11-13.

SPY, SPX, XLF, GLD, VIX below.