I'm not much of a technical analysis person, but I do find it interesting and use it as a solid adjunct as I try to decipher the markets.
This week insight's is that though on a short term basis we are looking good, the longer term is not looking good particularly for sectors like the banks and tech (i.e. the Nasdaq).
Quotes from Barron's:
"In other words, the market is a lot closer to the end of the road than the beginning, and some areas within it already have peaked."
"As always, it is about risk and reward. Under the current long-term conditions, buying and holding could be a losing proposition."
On the more positive side, the Small Cap S&P 600 had a breakout.
He doesn't mention energy in this update, I suspect because the energy sector is on a moonshoot that probably defies most technical analysis at this point.
Michael Kahn, who writes "Getting Technical" for Barron's, offers a free subscription to his newsletter, and if you're interested in this topic, I would absolutely sign up for it here.