US major stock indices are beginning to diverge away from the all-in buying ramp that began at the October lows. The current divergence between the DOW and NDX may be signaling a top of relative significance is forming, and breadth is also supportive of that idea. A “real” correction will involve ALL the indices, so something has to give.
The November Auction in the SPX was unusually vertical. I would expect a more rotational Auction at least into the first half of December.
A breadth contraction into the lower band is due. The rally attempt that should follow will be important to read.