Final rejection, then whatI duly didn't trust S&P 500 upswing, and downside reversal midsession followed - the divergence indicating daily lack of breadth (low cyclicals participation) provided one of the hints - while Nasdaq overcame mid Oct highs, S&P 500 clearly did not, and Russell 2000 was trading very subdued on top.
Source: Final rejection, then what (https://www.fxstreet.com/news/final-rejection-then-what-202410272355)