Rollover Beethoven

The indexes have further to go if they want. The main thing I'm looking at right now, with respect to the major indexes, is how much more concentrated these indexes are becoming. BigTech has become much bigger. The correction defused the situation, but the rally has created an even bigger bomb. The charts aren't as great of a setup as before, but the market is more reliant on stocks like Apple and Google than it was when the sell-off started. The bull case is everything else catches up and these stocks lag. The bear case has two possibilities. The immediate bear is an immediate rollover, perhaps if Amazon misses its earnings. The delayed bear is Amazon beats and fuels another leg up in BigTech, setting up a bigger decline.

Google going to break out or die at its all-time high?