Except for the NYSE, the skewed performance in all of the indices is due to a high level of volatility. For example, the Dow Industrials has now broken its previous high, the S&P 500 and the other averages have sustained a grossly extended multi month rally, and the internals are screaming overbought plus diverging.
It all goes back to the Head and Shoulders Topping Pattern. As you can see in the chart below, the New York Composite is now approaching the neckline of the Head and Shoulders Topping pattern. Once the neckline of the pattern is broken, prices will rally back up on declining volume for a backtest. This rally is textbook, and better known as a Bear Market Rally. Depending on the drawn trendline, it may or may not be complete.
Take a look because it could be this Index that will complete the long awaited top in stocks for the S&P 500, Dow Jones, Nasdaq, and the Wilshire 500. The Russell and Transports still remain a sell signal.
The New York Composite Index
Several other charts to show you...
The U.S. Dollar- Daily Chart
The Russell Index- Daily Chart
Gold and Apple