Not many changes to pivot status today. DIA is again testing its MP without any definitive direction.

But there have been recent changes in the number of indexes above YR1s. EWZ got walloped today, with YR1 rejection and close under MarchP. This week leaders SMH and XBI have fallen back under YR1s after trading above. RSX is also on this list - had cleared its YR1 but since failed.

Of the indexes I am tracking, only QQQ remains above its YR1.

If leadership is thinning, then rotation is happening or markets are about to drop further.

SPY and DIA below.