Market divergences continued to play out. This time, the S&P and Semiconductors broke clear in fresh breakouts, but the likes of the Nasdaq and Nasdaq 100 haven't yet followed Semiconductors higher. The S&P cleared the last swing high, but still has August highs to breach. Technicals, outside of On-Balance-Volume, are bullish. The Nasdaq finished higher but hasn't yet marked new all-time highs. As with the S&P, technicals - other than On-Balance-Volume - are bullish.

It has been a while since such short term divergences emerged in the market: big gains for Small Caps, struggles for Tech, with Large Caps stuck in the middle. The Russell 2000 chalked up a sixth day of gains as it neatly took out the 'bull trap' and prior highs.  The relative performance is off the chart of its historic relationship to other markets. It needs some comeback, but even when that happens it will remain well ahead of other markets.  Technicals are net bullish.

It was a mixed day for markets. Small Caps continued their rich vein of form with a near 2.5% gain, coming after four other days of gains. Some pullback is inevitable, but this has a good chance of becoming a buying opportunity. Relative performance has rocketed following steady declines since September.

There was a big divergence in markets as the Nasdaq succumbed to fears of a Trump presidency as Blue Chips held fast. Volume climbed to register as distribution for Tech stocks. Unfortunately, this all occurred after my election night short position was stopped out, but new shorts may enjoy better fortune. The Nasdaq turned a MACD and +DI/-DI 'buy' trigger. Relative performance accelerated lower as other indices enjoyed more positive days.