The mixed conditions referenced yesterday mostly the same today. Despite the afternoon sell-off, QQQ above all pivots except daily and IWM above all pivots except weekly.

However, SPY broke its MP slightly, DIA had MP rejection, and NYA broke its 2HP.

Oddly VIX and VXX remained unperturbed. if these were confirm downside risk I would expect the two USA leaders to cave. However, as long as these remain supportive of stocks I cannot totally abandon a bullish resolution to this choppy sideways period.

That said, other internals are looking like they do at the start of a significant down leg. Note - not all weak internals generate -10%, but when a -10% drop starts to happen they look they do now. Daily advance decline line is below zero; advance-decline volume is negative; and new highs new lows are starting to look worrisome.

SPY, DIA and QQQ below.