The S&P is seriously diverging, but QQQ is about to hit a new all-time high: 1. S&P 500 SPY In the short term, it’s still looking bullish, but you need to stay highly cautious. Every new high in the market comes with bearish divergence, and the choppy, twitchy movements at these levels show that the bulls are starting to hesitate. Sooner or later, prices will get pulled back to the moving averages. Right now, the market is in a dangerous overvalued zone—absolutely no blind chasing at these highs. Currently, the entire U.S. stock market is being propped up by tech stocks alone. Without them, the market is actually quite weak. Strategy-wise, this is a market for quick in-and-out trades during the day. 2. Nasdaq 100 QQQ It’s clearly outperforming the broader market, and the chart looks fantastic. Right now, the chips are consolidating tightly at the highs, and there’s a high probability it will break through to a new all-time high soon, kicking off a strong new wave of extended upward momentum. As long as the leadership of the big tech sector remains intact, hold onto your tech stock positions firmly and patiently wait for the market to present trading opportunities. The U.S. stock market is entirely propped up by big tech!