Strange Divergences On Stock Market Indices

A major divergence has formed between the S&P 500 and the Nasdaq that is largely being ignored by the mainstream financial media. Usually we have a convergence of the major indices in uptrending markets like the kind the S&P 500 has been in since March of 2009. The Nasdaq is in a strong uptrend while the S&P 500 has a sidelines rating. Are institutional traders secretly beginning to rotate money out of the S&P 500 and into bear market hedges like gold? Is this split of opinion between institutional traders that trade on the S&P 500 versus those who trade on the Nasdaq, is this signalling a market top?

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