3/2/2018

Friday could have been far worse, but wasn't. Still above all pivots:

QQQ
SMH, XBI back on the leaderboard, KRE (sub-sector)
EWZ, RSX
VIX

That is one more than yesterday. 

Some other positives:
IWM recaptured QP
NYA held 1HP (though below QP)
VIX tested YR3 and closed under YR2.

However, SPY still under its MarP which was clear resistance near the close.

As usual, a lot more coming up on the blog over the weekend. Sentiment per put-call is very bearish, but current main index leader QQQ has been above all pivots since 2/23. I'm not denying the declines of last week, and I've tweeted about the threatening configurations of quarterly charts, but when the leader holds above all pivots it usually means to not be too bearish. 

SPY and QQQ below. 

2 11 QQQ D.png