SPX and COMPQ: Still Bulls' Ball

As I mentioned a few days ago, COMPQ continues to look pretty good for bulls to keep the ball over the near-term:

SPX met noted resistance and broke down briefly but is threatening to regain its melt-up channel.  Bears will need to sustain a breakdown there to get anything going for the near-term:

Here's (or "here ARE," as some Latin purists might argue) some interesting data from JP Morgan:

As we can see above, if we were to remove AAPL, AMZN, META, MSFT, GOOGL, NVDA, and TSLA from SPX, then SPX would still be in a bear market.  That's pretty incredible, as it suggests that most buy-and-hold investors are still in the hole vs. the 2022 highs.  This has, so far, been a pretty narrow "bull" market.

That's about it for today.  Trade safe.