The latest Total market view expected selling attempts from SPX 2503 - check. It also said the best way to play weakness would be QQQ - check. Last week I pointed out "exit bar" for SMN - check. 9/18 special post on oil said it could be "worth a significant position" - check!

This is a mean reversion move with first half favorites tech, global stocks and EURUSD getting hit, and first half laggards IWM, XLF and USO/XLE, along with DXY, rallying.

SPX faded a bit from 2HR1 as expected but doesn't look that bad. VIX also stayed under all pivots and XIV barely budged. However, TLT reclaimed its YP - again. TLT has now managed to lift above this level several times this year. This threatens the XLF idea a bit even though it too was basically flat on the day.

SPY, QQQ, USO, XIV, and TLT below.