Sum
All 5 USA main indexes are above all pivots, a basic bullish configuration. AugPs had test or near test and all held so far. SPX, DJI and NYA cleared resistance levels last week (YR1 and QR1s respectively).
This is all bullish so the right thing is to set sighs on higher level targets. Interestingly, RUT IWM which had been the clear leader early in Q2 has been unable to clear YR2 and now poised to lead to downside should there be any weakness.
SPX SPY ES
W: SPX clearing YR1 opens door to HR1 / retest of highs.
D: SPY big buying from near test of AugP; clear YR1 points to HR1 target.
ES: AugP near exact on the low.
SPY 2H: Very bullish working off of overbought conditions; quick drop and a few days below a WP and then back above.
SPX sum: After dropping from YR1 area and JulR2 top, SPX had a few days of shuffle and mild pullback to near AugP (exact on ES futs) which was bought big time. SPX finished above the YR1 which means next move more likely to HR1 which is essentially test of 2018 highs.
NDX QQQ
NDX W: Mild drop from HR1 with 2 relatively tame red bars and already moving back up.
QQQ D: AugP bought. Should see test of resistance cluster of QR1 HR1 YR2.
NDX sum: Should see retest of resistance cluster QR1 HR1 YR2.
DJI DIA
DJI W: Between long term levels.
DIA D: Clearing QR1 for the 3rd time.
DJI sum: Above QR1 bullish for near term.
RUT IWM
RUT W: YR2 stopped the rally 3x. Above AugP but any further weakness will break.
IWM D: AugP defended so far.
NYA
W: Between long term levels.
D: Above AugP and cleared QR1 for the 2nd time, bullish.