Bearish action on all 5 USA main indexes today.

Leader IWM rejected from MayR1
QQQ tried to clear YR1 and couldn't
SPY MayR1 rejection
DIA QP rejection (said yesterday that level would be the tell)
NYA D200MA break after big recovery yesterday

However - this may not be quite real because VIX and VXX did nto confirm the move at all. We have seen other end of month days that are weak and snap right back in the new month, so I'm willing to say perhaps not as bad as the list seems above.

I would definitely change my mind with VXX above HP and VIX rallying above YR - that would be definitely bearish.

New June pivots in play tomorrow - those will also help sort things out.

IWM, DIA and VXX below.