Prior week: "All USA mains still under major yearly resistance levels on cash indexes but no significant selling pressure yet."
Last week: Selling pressure from key resistance at SPY YR2 near tag, NDX YR1 bang on, INDU YR2 very near tag, RUT YR2 exact.
Unfortunately the software doesn't show 2017 pivots until the next bar opens. So take the time especially to look at the cash weekly charts with key lows on yearly support, key recoveries and holds of YPs mid year, summer pullback from yearly resistance, election blastoff and move to next yearly resistance.
Cash index weekly charts with long term levels only
Daily ETF chart with long term & medium term pivots
Futures current contract pivots only (no S/R) and MAs for clarity of entries (now March 17 H)
Futures "1" continuous contract with the works
SPX / SPY / ESH / ES1
SPX stopped just shy of YR2.
SPY (slightly different pivot structure due to 8/24/2015 spike low) 1 day above Q4R2 but this level essentially the high.
ESH already one test and hold of D20, this pullback breaking after more distribution and sideways from mid December.
ES1 like SPY shows top near Q4R2.
NDX / QQQ / NQH / NQ1
NDX high bang on YR1.
QQQ (again different due to 8/24/2015 move) also on a level, 2HR1.
NQH dropping onto fallign MA lines, not best setup for short; but MACD about to roll over negative.
INDU / DIA / YMH / YM1
INDU high 40 points from YR2.
YM futures charts show first test of rising D20 since election day.
RUT / IWM / RJH / RJ1
RUT low of year on YS2 and high on YR2. Very pretty!
Hedged on IWM at the YR2 right move.
This also could be a bullish working off of overbought conditions.
NYA / VTI
Bad data tick on NYA. Unless that gets smoothed out pivots are not reliable for 2017.
VTI high not on any long term level, but near enough to Q4R2.