Decompose the general markets into the sectors. You may find tech analysis works a little better. Part of the problem I think is happening is money is rotating too fast to get clean signals using the DOW, NASDAQ, or SPX. The only signal those three are giving is the DOW and SPX have had a stronger rally off the August 13 lows than the NASDAQ. It reflects a flight to quality. Investors are hopping (and hoping) through the risk spectrum.
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