![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhYcyKGD7FS492ynp4Ih-KvmWY1cZPv1O-SUemZIqvuqczi3ro9v5MFUXk2XNz3ujJiMCa3wW4vOCIU58U63Dh184GBkseHdq_FN9z8ESAiJPQmn0DhZxSAiIy25r0mmMMwN6LtTMO9ffheolFqO5lonaUlhzqFgHjGXYfH0cWnyZt4ORtE8y6Kmw21sLN3/w400-h179/SPX%20weekly.png)
Instead of worrying about whether it can rally through resistance, here is another index that staged a cup and handle breakout, but to all-time-highs. It’s the NYSE FANG Plus Index, which represents megacap growth stocks, which has been the market leadership. The catch is its relative strength is faltering and its retreated to test a key relative resistance turned support level. Further relative weakness could signal a loss of megacap growth leadership.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDMuMO9Wsj3XiZxxWgnGgvsuc8f4n5ah62rOVtN0s609xzrBs498rBdv8Qgx_u2qi5eKpcIqzvvroCoqiMTHos_bQFHkqkYO0nJKm4LlG2mcQtEwbCJwO1b_StUxmAcHb9sPHBHW29wTa4OZ7EEwvP6FSGmJ8-G4ZRyiXskIcFbobcY4g_E3OL45dNsh81/w400-h300/NYFANG.png)
The full post can be found here.
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