Safe havens have screamed stock buy from 11/9. VIX from 2HP all the way under all pivots and has stayed that way. XIV held YP on the low and back above all pivots as of 11/9 as well. TLT and GLD crumbling below long term levels (11/10-11) also say risk on.
The main question now is how low will VIX go before we see stock selling. Sometimes a quick dip down is all you see (like 10/24 into 12s then a jump) but it can also have an extended period like early July all the way to September in a fairly low range without a significant advance, and stocks held up accordingly. For now long and strong stock indexes with VIX below all pivots I say, although given other factors we could easily see more digestion and a shakeout.
If you are in financial longs, it might also be worth watching TLT. Last week I suggested it as a maybe hedge idea if it held Q4S3. 1 day break 1 day recovery, boucne, then gains and setup gone the next day. So far it has been better to not mess with anything, but with selling slowing down this may still happen, but I think upside limited to the YP area.
GLD and GDX area weak below 3 of 4 pivots. It is too late to short, and avoid on the long side.
Weekly with long term levels only
Daily with long term medium term
Daily with pivots only (no support or resistance) and moving averages for entries
Weekly chart clear resistance at 2HP then plummet through the YP.
TLT 2 day bounce attempt above Q4S3 that quickly failed. Lows still on NovS3.
If you wanted to short, a move under Q4P with falling MAs and MACD change on 10/3 was the place - study this setup, because if you want to short anything this is everything you want to see.
While I have to be bearish long term on TLT (and have been) last week I thought chance of trading low. As it turned out TLT just below Q4S3 but above the monthly S3. Weak but as selling slows down the chance of bounce increases.
Weekly chart below 2HP and YR1.
Like TLT it is below Q4S3, but on a monthly support on the lows (S2, where TLT is on S3).
VIX has confirmed stock buys 11/9 on by being under all pivots, with levels clearly acting as resistance. It is now under NovS1 and NovS2 is unlikely.
Did best job on market 11/4 lows, holding YP near exact (every other index I track was breaking levels)
Continuous VIX futures below all pivots from 11/9 as well.