Prior week: "4 of 5 USA mains back above all pivots! Amazing! INDU and RUT set leading, above YR1s. SPX and VTI testing. Tech not in a party mood, below is NovP and just a bit above Q4P."
Last week: SPX set above YR1 and tag of NovR2; Tech set bit weaker under NovP; INDU above YR1 and already at 2HR1; RUT soaring; VTI slightly above YR1.
So far more bullish for SPX & VTI to clear YR1s and join INDU & RUT that were already above. But markets have reached enough pivot areas for a possible trading turn - SPY NovR2, DIA 2HR1, QQQ NovP. These are the levels to watch next week, along with the YR1s which could act as support on SPX set, INDU and VTI.
Cash index weekly charts with long term levels only
Daily ETF chart with long term & medium term pivots
Futures "1" continuous contract with pivots only (no S/R) and MAs for clarity of entries
Futures current contract with the works
SPX / SPY / ES1 / ESZ
SPX weekly chart looks like going to 2HR1 at 2209.
Daily SPY shows low near Q3S1, recovery of pivots, few days pause at YR1, then above, recent high on NovR2. That is a lot, from nearly NovS2 to R2. Holding above YR1 is more bullish.
Futures show the globex low down at NovS3.
NDX / COMPQ / QQQ / NQ1 / NQZ
NDX holding 2HR1, while broader COMPQ a much better advance from this level.
QQQ and futures show stall at NovP, still making tech the weak link among USA indexes.
INDU / COMP / DIA / YM1 / YMZ
RUT / IWM / RJ1 / RJZ
Weekly cash chart, wow. 2HR1 very doable.
IWM daily chart - if you bought first index to clear above major resistance then you are doing very well here.
Futures charts even better with nothing but blue from 11/4.
NYA & VTI
NYA is weaker because it includes more international proxies. Above all pivots and not yet at resistance.
VTI has just cleared YR1 slightly which is bullish. Note this was the high area in August & September.