5/16/2018

The last two days I have mentioned that bears didn't get everything they would want on the recent turn, and today that view played out. 

In the last USA main index post over the weekend, the summary section said this: "Indexes are at resistance in the context of a bull move. The task is to judge the likely path - immediate clear (less likely to my eyes), pause or small pullback then clear (possible), or decent drop (also possible).

Immediate clear did not happen, as expected. Of the latter two options, so far it is looking like pause or small pullback. But the clear hasn't happened yet either. The big levels in play from here:

IWM YR1
QQQ YR1
VIX YP

Also in play: SPY MR1, DIA MR1 and QP, NYA MR1 and QP, and VXX HP.

IWM, QQQ and VIX below.

16 1 IWM D.png
16 2 QQQ D.png