Checking in on the T6 (top 2 version) bullish model finds our equity line below the RSQ stop line but upslope on the P6. Surprisingly, the slower P3 line is flat and looking to go either way. SPY and IWM have moved out of range of the #1 ranking with XLF looking to pop in and out of the #1 slot.
The current divergence in the rankings of XLF and QQQ is at odds with our underlying premise that tech and financials will typically lead the markets above resistance levels to new highs.
For now the RSQ for all 6 components is upslope, as is the P6, but we are also seeing evidence in all 6 components that the equity curve is weakening.
As mentioned yesterday...watch the SPY TrendX in the right side panel for an real time view of momentum.