Market Analysis (23 June’21)

While Nasdaq broke out to the new all time highs this week, the other three indices are still below their respective prior all time highs forming negative divergence between the tech and the rest of the market. For the broader market to continue moving higher, S&P500, Dow Jones and Russell should join tech and start printing new all time highs.

Nasdaq vs S&P500

Nasdaq vs Russell

Nasdaq vs Dow Jones

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