A Look at the Equal-Weighted NDX/SPX Indicies …

The McClellan Summation Index continues to push higher today showing that there is more buying pressure than selling pressure in the market currently … however, a look at the equal-weighted major indexes point out the fact that the leadership in the market is drifting to a smaller and smaller list of names.

NASDQ 100 Equal-Weighted Index – Daily Chart

S&P 500 100 Equal-Weighted Index – Daily Chart

We will have to see if these potential Head & Shoulder chart patterns actually play out as we go forward …

Cheers … Leaf_West