Unfortunately not one easy message this week. Indexes are in fairly varying states:
INDU / DIA between levels, not at resistance and well above support.
SPX / SPY testing YR2 / 2HR2 combo 2576-82, with SPX holding this area as support a couple times last week. Bullish to be holding level, but anything lower would look like yearly level rejection and open the door to NovP at minimum.
NDX / QQQ is high was very near YR3 6377. Time to lock in some gains.
RUT / IWM already down from YR1 and agile traders have made money on this move as a hedge as suggested last week. Whether this is enough for a decent bounce or goes lower I don't know.
NYA & VTI are also giving mixed messages. NYA has more global names which have had a bout of short term weakness the last few days, and Friday NYA closed below its NovP for the first time since 9/5.
SPX / SPY / ES
SPX W: Benign pause so far. That multi week RSI low in August band on W20MA and AugS1 standing out as one of a few key pullback lows of the year.
SPX W: Holding above resistance cluster 2576-82 so far.
SPY D: But not the case on SPY, with YR2 2HR2 area looking like resistance.
ES Z: So strong hasn't touched a monthly pivot since 9/8.
ES 1: High on Q4R1, but above YR2.
SPX sum: Remaining above 2576-82 gives bulls benefit of doubt despite look of SPY and Q4R1 rejection. Anything lower than 2576 opens door to deeper pullback but NovP at 2559 will be next key support.
NDX / QQQ
NDX W: Small up bar a bit toppy though 10/16 bar also looked that way to mee as well.
NDX W: YR3 near tag. Time to be locking in gains.
QQQ D: YR3 near tag. Well above all pivots from late Sept but I will be surprised if powers through YR3 before a bigger drop.
NQ Z: For now all above rising 10MA from 10/27, with rising 20MA and NovP also below to act as support.
NDX sum: Near YR3 tag. I think more likely to see drop from this level instead of power move through it (though Dow surprised me in this regard from YR2 a few weeks ago).
INDU / DIA
W: Reversal / pause.
W: Between long term levels with power move up through YR2 a few weeks ago.
D: Between levels.
INDU sum: Still doing fine and not at pivot resistance. NovP and Q4R2 combo are support.
RUT / IWM
RUT W: Selling with RSI near OB in contrast to other indexes. Testing W10MA and slight break.
RUT W: YR1 high.
IWM D: IWM near YR1 tag and down; just held NovS2 and 2HR1 area. Might be enough for low but if lower then Q4P key support.
NYA & VTI
NYA W: Holding above 2HR2.
NYA D: NovP slight break!
VTI W: Under 2HR2.
VTI D: But still holding NovP.
These are a bit conflicted with opposite messages from each weekly and daily chart. The larger context is volatility in global names which is pulling NYA down the last few days.