USA main indexes did go lower today as expected. However, as VIX and VXX had somewhat indicated from yesterday, the drop was not entirely real, new monthly pivots held for a few indexes on all but DIA, and the close level was higher for SPY, QQQ, and IWM.

Stock indexes remain in quite mixed fashion with QQQ reclaiming its Q2P, therefore above all pivots; and IWM above all pivots except weekly. But DIA is below QP, MP and WP. The linking factor is likely DXY strength.

SPY rallied off the lows but was unable to close above its WP. In this kind of range environment, there have been several incidences where this simple indicator has acted as useful trigger.

If this commentary is sounding mixed that is because markets are quite mixed - if trying longs, QQQ and IWM are the clear leaders among USA mains. If trying shorts, there are several choices that are below both QPs and MPs - DIA, FXI, EEM, KWEB, EWZ, RSX (though RSX is bang on its YP - watching for that to break for 2nd time).

SPY, QQQ, DIA and IWM below - plus SPY 1H to show the move down from QP, then WP break, down to WS1, back to WP again.