- Should say has bias, but as has jumped to extreme, that causes quite some distorsions. The reason we can not say is bullis, is in fact Chikou Span, which is still at resistance.
- Heikin-Ashi signal: second inside candle, haDelta and DMO dips a bit after extreme high prints. Price faces 2175 resistance (also in form of previously broken )
- EWO is shy positive
- signal: far from . It is still consolidation.
- has bias (lot of distorsion in components due to ). Watch Kijun Sen (26 period average - red line) as it will jump to 2140 after 6 more candles
- Heikin-Ashi patter: consolidation with signals -> haDelta and DMO down to zero.
- EWO decreases (kind of minor negatove divergence)
What keeps SP500 so high relative to Nasdaq100? Obviously sector rotation. In my honest opnion, sector rotation is not a wide spread action. It is just jumping from deadly tired Bulls to ride new ones (e.g: sell Technology / buy Financials). In this regard, NQ is a better short now than ES.
I can not consider this kind of rotation and around 26 / 52 / 100 weeks averages as broad . In fact, this type of market behaviour is very often an early signal of a larger trend reversal.
I will post a Monthly/Weekly/Daily chart tomorrow, with interesting and important strategic levels to watch.