The S&P 500/ES, Dow/YM, Naz 100/ENQ and Russ 2k/TF made one of the most dramatic reversals in quite a while with the Dow/YM closing at multi-year highs and a fraction from its all-time high.
Yes, there are divergences accompanying the new high in the Dow with none of the other indices making higher highs for the year. However, it’s early. The benefit of the doubt has to go to the bulls with the caveat that this week’s lows must hold and the S&P, Naz and Russ should soon confirm the Dow’s new rally highs with closes above their respective highs to date for the year.
