SPY is still under its resistance cluster, but SPX has managed to stay above YR2 for the second day (while remaining under 2HR2). Another point of weakness is that IWM is below its NovP.

But looking at safe havens, I give edge to stock bulls in coming days. VIX tested and held NovP as resistance as XIV held near test of NovP as support. GLD and GDX tested Q4P and 2HP respectively, and both were clear resistance.

TLT was up but still under Q4P; AGG up but still under YP; only HYG is sending some alarm to stocks.

Due to major levels involved on SPX/SPY combo at YR2 and IWM YR1 rejection, this is still a day to day assessment of the more likely move. As of yesterday I thought we would see further weakness and was recommending a rare UVXY hedging position. Today the market dropped but came back as XIV held NovP and rising D20MA combo. Now it is back to bulls having the ball.

SPX, SPY, VIX, XIV below.