Some pullback as the latest Total market view anticipated, but USA indexes off the lows and quite resilient. NDX near test of YR2 and holding so far.

But 4 of 5 USA mains finished under WPs so tough to say that the low is definitely in. Also as expected international indexes leading lower with FXI EEM and KWEB dropping again from YPs. Others hit across the board including recent leader INDA.

On the other hand, VIX finished under its MP so that is a point for the bulls.

Bottom line is indexes may go lower but at this point expecting monthly pivots should they test to be a buy.

SPX and NDX below.