The S&P 100 index of megacaps divided by the Wilshire 5000 index of the total stock market is making its 3rd attempt at resistance levels set 28 years ago, on May 15, 1997. The news cycle at the time was a pivot into a Fed easing cycle. A failure here would be construed as a positive for small caps relative to large caps, as it would put stiff cement on this 1997 resistance.