Nasdaq and Dow
The Inter market divergence between the Dow and Nasdaq is as glaring as our own Midcap/Nifty divergence. But this is more right now because the Nasdaq [and Russel] are at new all time highs. And the Dow, S&P, NYSE Comp, are not. Inter market divergences that are this big when established are indicative of long term turning points in the market. So continues to be a warning everyday that the US market like ours is completing a major topping pattern. The Dow was the only US index to close down yesterday and is the only one that broke the blue wedge trendline.