1pm update - looking further ahead

Whilst the market is seeing some chop before the sp' breaks the 1897 high...there remains a particularly interesting scenario.. where the Dow/SP/Trans break new highs, whilst the R2K/Nasdaq merely form a RS...somewhere around 1160/80 zone.


R2K, weekly2

R2K, daily

Summary

The above scenario I've occasionally highlighted across the last few weeks.

I would consider the recent weakness in the R2K/Nasdaq as the first 'early warning'.

Best guess...sp'1920s...with R2K...1170/80..and then a major rollover.
-

First resistance right now though.. sp'1900/10 zone..but that will rise next week to around 1915/20....'best bull case'.