Readers of my detailed USA main indexes post on the weekends will see my comprehensive approach: cash index, ETF, futures current contract, and futures continuous contract.

And today we have a perfect example of why I include all of these.

SPX cash index - under Q4R1
SPY ETF - above Q4R1 slightly
ES Z current contract - under Q4R1
ES 1 continuous contract - under Q4R1

So if you were just looking at SPY, you would have missed something important! This index didn't really clear Q4R1 and so my trading top call from the recent Total market view is still very much in play.

All charts below.