3/13/2018

Selling from highs today and while the markets are not without concern I still give bulls the benefit of the doubt.

This is because all 5 USA main indexes are above all pivots. So my tune will change if DIA breaks under its MP (monthly pivot) for the second time this month.

VIX also poked above its YR1 but still under its weekly pivot so that is still a toss up. 

The damage today:

SPY rejection from QR1
QQQ rejection from QR3

Also, current sector leader had traded above its YR1 but faded back under slightly today. 

SPY, DIA and VIX below.

13 2 SPY D.png
13 3 VIX.png