11/4/2016

Everyone is talking about the daily 200 moving average on SPX, but The Pivotal Perspective is already bearish. 

SPX set broke Q4S1 with the level even acting resistance. Of course 9 days in a row and RSI fully oversold means everyone looking for the bounce (including me earlier this week), but so far it is not happening. 

Also:
NDX set could have recovered Q4P, but didn't
INDU broke NovS1
RUT could have recovered YP, but didn't
NYA broke its YP; VTI Q4S1 also acting as resistance

Also, VIX 2HP acted as support!

All this is quite bearish for stocks. Things could change with the election news so we'll sort it all out later this weekend. Since a lot of charts coming up later this weekend, just SPY and VIX for now.