The short-term uptrend (days/weeks) remains positive for US equity indices, although...

Short-Term (days/weeks) : still positive
Key US equity indices were all higher last week, including the S&P 500, Nasdaq Composite and the DJIA; indices were mostly sharply higher and Daily OB/OS momentum indicators turned up at modestly or moderately overbought.
At the close on Friday, the S&P 500 and Nasdaq 100 were turning down at resistance as Daily OB/OS momentum indicators were turning down at moderately overbought. The DJIA and Nasdaq Composite were testing or near trend support.
The short-term uptrend (days/weeks) remains positive, although some sector rotation is possible now.
The DJIA model of troughs in the NYSE ITI in the 30% range still looks relevant and suggests strength to late July before the next pullback: see chart, page 2. See Daily OB/OS Charts, attached.
Intermediate-Term (weeks/months): higher
US intermediate indicators of breadth and momentum were mostly very sharply higher week-on-week at the close on Thursday, including NYSE, Nasdaq 100 and Nasdaq Composite 100 Intermediate Term Indicators and Percentage of S&P 500 Groups with Positive Money Flow ; Money Flow of the Average NYSE Stock was unchanged.
Key US equity indices were all sharply higher or very sharply higher week-on-week at the close on Thursday, including the Nasdaq Composite, the Nasdaq 100 and the DJIA. All three indices are testing intermediate price resistance. See Weekly Charts, attached)
Intermediate indicators of breadth and momentum are modestly overbought (NYSE, Nasdaq 100 and Nasdaq Composite ITI), neutral (Money Flow of the Average NYSE Stock) or even modestly oversold still (Percentage of S&P 500 Groups with Positive Money Flow), leaving room for further upside.
Also, the DJIA/NYSE ITI analog model still looks relevant and points to strength to late July before any meaningful pullback: see analog chart, page 2.
Key Takeaway : the intermediate outlook (weeks/months) for US equities remains positive.