New Highs on SPY and QQQ = always a good time to check on divergences.
We already know that this is a narrow based advance, with RSP (equal-weighted spy) negatively diverging, still.
We already know that small-caps (SML-600) vs large-caps (OEX-100) are negatively diverging, still.
THE GOOD NEWS IS THAT the advance-decline lines on QQQ and SPY are confirming the advance (AD lines are all in pink; see green circles).
But the broad market nasdaq diverges (bottom panel), more proof that the advance is narrow-based, which we know already.
Eventually the broader market needs to catch up