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Currently, SPX is hitting a marginal new high, but NDX is lagging — this phenomenon bears many similarities to the trend in 2021 from a technical perspective.
On one hand, analysts in the market are starting to call the top again; this routine happens every year. On the other hand, considering the year-end rally, the probability of a surge is quite high. This conflicting feeling is quite interesting.
From a technical pattern standpoint, although there are many sayings about "times being different," the trajectory of PA( price action) is indeed replaying past scripts. Whether the bulls can hold this rally and whether $SPX and $NDX can surge together towards the year-end remains to be seen.