So far this looks to be a pause at resistance which commonly happens especially as some indexes reach overbought levels on daily charts.

SPX pause near HR1
QQQ 2 days above JunR1 then back to level
DIA near JunR1
RUT top on JunR1
NYA top on JunR1

Conveniently, VIX and VXX both bottomed on JunS1s.

Today VIX had an opportunity to reclaim its YP (after just 1 day below all pivots) and TLT could have rallied above its MP (still below all pivots). Should we see those events soon then the outlook would be more bearish. Until then, just a little shakeout.

Except - NQ new U contract testing YR2 after a classic double top, XBI in HR2 YR1 area, and SMH top on YR1 exact. I think it is time to be watching to lock in any tech gains from early May longs. This is especially the case as the last two weeks of June frequently see institutional re-balancing moves, which would put the best performers of the year at the most risk of a drop. Considering how far QQQ is outside its quarterly Bollinger band, the quarterly RSI on SOX index (88), and the divergences forming on XBI quarterly chart, it is really time to be watching these tech indexes closely if long. Intrepid traders could consider the short side here as well.

SPX, NQ (U), XBI, SMH, VIX below.