Last week: 3 indexes above pivots but with rejections from AprR1s, and 2 indexes below long term levels.
This week: 2 indexes above long term levels, 1 testing; 2 below; so a bit more bearish. All 5 main USA indexes below MayPs but no tag of MayS1s yet.
SPX / SPY / ES
SPX above its long term levels; showing the medium term pivots on the daily SPY and ES charts, and below the MayP without tagging the MayS1 yet.
NDX / COMPQ / QQQ / NQ
2nd major break of YPs on the tech set; usually, 2nd moves are definitive. QQQ holding its YP and so it does seem like some algo activity there; and NQ not giving up with a recovery of its Q2P. Bottom line the YPs on the cash indexes are the most important, and it is bearish that the tech set traded below for a second week. That said, could have been worse.
INDU / COMP / DIA / YM
INDU above long term levels, but COMP signals on pivots looking pretty good with low of year near YS1 and high of year near 1HR1. DIA and YM similarly above most pivots but below MayP.
RTY / IWM / TF
Rejection of the 1HP / YP area helped seal 4/27-28 as a more important trading top. Like other USA main indexes, below the MapP without reaching MayS1 yet.
NYA / VTI
NYA holding its YP by just a few points, with near exact tag of 1HP as support.