SPY, DIA, VTI all recently cleared resistance clusters without any trouble and have maintained gains. QQQ soared through its YR1 to 1HR2. This is very healthy action. Only IWM is acting weaker and likely to lead markets lower when (if) they stop going up. Level to watch this week is QQQ 1HR2; I think a pause there more likely than blast though, but we'll see what happens.
Cash index weekly charts with long term levels only
Daily ETF chart with long term & medium term pivots
Futures current contract pivots only (no S/R) and MAs for clarity of entries (now March 17 H)
Futures "1" continuous contract with the works
SPX / SPY / ESH / ES1
SPX weekly launched from 1HR1 and looks headed for YR1 / 1HR2 combo, only 33-40 points away.
SPY no damage even from FebR3 yet.
ESH above all pivots from 11/9 on; above 20MA entire way except 12/30, and most of the way above 10MA as well.
ES1 includes Bollinger bands and though we are seeing highs inside the band (classic divergence) after several power up moves outside the band since 11/9, RSI *higher* should mean divergence there too for a major top.
SPX set sum - amazing trend continues. YR2 / 1HR2 looks very doable.
NDX / QQQ / NQH / NQ1
NDX looks more like a top here at 1HR2.
QQQ also testing level.
Futures above all pivots and 10MA every day since 1/4 is a stunning run.
NDX set sum - Testing 1HR2. Tech has been 2017 leader which is bullish for the market. First to reach YR1 and clear, but now at the next long term resistance level. Pause here certainly possible.
INDU / DIA / YMH / YM1
INDU lifting above 1HR1, bullish.
DIA above 1HR1 / Q1R1 cluster without any trouble.
RSI is just a tad lower than December high but not glaring.
INDU set sum - above 1HR1 / Q1R1 without trouble and so far maintaining gains. Doing fine.
RUT / IWM / RJH / RJ1
Not joining the fun this year; just above Dec highs.
Recent high on FebR2 and noticeable RSI divergence.
RUT sum - 2017 lagger, not even close to a quarterly resistance, barely above 2016 highs and glaring RSI divergence makes this index likely to lead lower when market finally stops going up.
NYA / VTI
NYA & VTI also recently above Q1R1 without any trouble. NYA showing a bit more RSI divergence but otherwise these look fine too. It would take noticeable deterioration in both IWM and VTI to have a real breadth concern in the market.