Typically at this time of the year, first half of June, NASDAQ and Russell 2000 are often leading DJIA and S&P 500.
Historically, the month of June has been kinder to technology and small-cap stocks than others. Sure, June has been quite robust so far, but it has been DJIA (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) leading the charge higher. Their strength is also confirmed by NYSE and S&P 500 cumulative Advance/Decline lines at new highs already. NASDAQ (NYSEARCA:QQQ) and Russell 2000 (NYSEARCA:IWM) cumulative Advance/Decline lines are weaker have not exceeded the highs reached last year. At the least, NASDAQ’s Advance/Decline line likely needs improvement for the market to make any meaningful headway.