Given the data I just posted, glance at the SPX chart which over the past two days printed shaved candles (little or no shadows) which is bullish.
On the top panel, note INVERTED equity-options traders (3ma) are still in the green, but with a negative divergence… so it may be just a matter of time before they go red…
On the bottom panel, volume NYUD (black) has confirmed the higher SPX highs until now. Note that when it dipped in Feb/March it recovered quickly (green and red boxes). Now it hasn’t yet recovered from the June dip, and that’s a problem.
The NYAD (lime) recovered nicely with a higher high, and that’s what most folks watch …. soooo ….
Things need to change here, and it may all be resolved as early as next week.