No short-term sell signal (days/weeks) for US equity indices.

Short-Term (days/weeks) : still positive
Key US equity indices were all higher last week as Daily OB/OS momentum
indicators turned down at moderately overbought (S&P 500, DJIA) or turned up
at neutral (Nasdaq Composite, Nasdaq 100).
At the close on Friday, the S&P 500, Nasdaq 100 and Nasdaq Composite were
testing resistance and the DJIA was turning up at short-term trend support; Daily
OB/OS momentum indicators were moderately overbought (DJIA, S&P 500) or
modestly overbought (Nasdaq Composite, Nasdaq 100).
No short-term sell signal (days/weeks) for US equity indices. DJIA /NYSE ITI
analogs point to possible choppiness over the next two weeks, but there is
support for the S&P 500 at 4500 and 4456 (2-3% below Friday’s close). Use any
weakness as a buying opportunity. See Daily OB/OS Charts, attached.
Intermediate-Term (weeks/months): still positive
US intermediate indicators of breadth and momentum were almost all higher
week-on-week at the close on Thursday, including NYSE and Nasdaq 100
Intermediate Term Indicators, Percentage of S&P 500 Groups with Positive
Money Flow and Money Flow of the Average NYSE Stock. The Nasdaq
Composite Intermediate Term Indicator was slightly lower.
The NYSE Intermediate Term Indicator and Percentage of S&P 500 Groups
with Positive Money Flow accelerated higher.
Key US equity indices were mixed week-on-week at the close on Thursday : the
DJIA was slightly higher, testing resistance the Nasdaq Composite was slightly
lower, stalling at resistance and the Nasdaq 100 was unchanged, stalling at trend
resistance. See Weekly Charts, attached.
Mixed intermediate indicators of breadth and momentum accompanied by mixed
US equity indices suggests a still-positive intermediate trend for the US equity
market.
The DJIA /NYSE ITI analog model suggests a positive intermediate trend too for
the DJIA/S&P 500 (weeks/months) with possible choppiness/modest weakness
in July/August, followed by new highs: see analog chart, page 2.
Key Takeaway : the intermediate outlook (weeks/months) for US equities
remains positive.