Some significant damage today from The Pivotal Perspective:

SPY QR1 rejection
QQQ YR1 rejection
DIA MP break
IWM QR1 break but comeback so not pure rejection; could be pause
NYA MP break

+s
SPY MP hold
NYA HP hold

-s outweigh positives

As an aside, USO held up remarkably well considering.

The other larger point is that in the not too distant past 2018 leaders above YR1s consisted of: QQQ, SMH, XBI, EWZ, RSX and KRE.

But now they have all failed back under YR1s. As I have said over and over in Total market views the last few weeks, "resistance matters."

SPY, DIA and QQQ below.