I consider the Nasdaq composite climatic and the Nadsaq 100
more so. Same with the S&P100. Went up too far too fast. Not quite so the S&P500. Definitely not the NYSE composite. The declines have exceeded advances by 2 to 1
for the last two days while the 500 increased a little. The 500 failed to close above its previous new high. I don’t like the 500 at over 21 PE on twelve
months trailing earnings especially that Q1 GAAP earnings declined.
S&P 500 does go to a new high it doesn’t necessarily mean a breakout