As suspected yesterday the markets took a turn for the worse today. The bulls made a mid day push but could get the enough traction to hold gains into the close.
Tomorrow's the first of the month and a Friday so we may see some rebalancing positive action in spite of today's weakness. The bulls still have a chance to take the lead, but there's increasing signs of overall waning momentum.
The VEGA model has completely reversed SSO and SH rankings in one day. What is curious is SPY's non-decline to the #4 slot. Friday's action should be interesting as the daily SPY TrendX (right side panel) is now in decline and all short term momentum signals are also negative.