The market is very fractured at the moment. New all-time high in the S&P 500 mini futures pre-market this morning. The SPX couldn’t match it and came within 12 points of another all-time high. Yet other indexes are seriously lagging (or leading). The SPX’s close twin, the Wilshire 5000 is quite diverging from the S&P. In fact, the Wilshire finished less than 50% retrace from its all-time high to its recent pivot low.
And the NADAQ Composite is some 6 1/2% from it’s intraday high last month.
The NYSE. If major support were to break, we would have confirmation the top is probably in.
