Outside Up Day for the NYSE: not so the Small Caps & Russell 2000.

NYSE Daily Chart @ Close 09/24/2014

As one of the trio of sub- indices that have clearly under performed the headline S&P500/ DOW scoring record highs; the NYSE has put in a Bullish Daily Chart pattern with a Bullish Engulfing Outside Up Day.
The Small Caps (S&P600) & Russell 2000 NOT so; so the 'jury' remains 'out' amid this churning corrective price action 'below' the frothy Head- Line #'s.

Are the Headlines accurate: NYSE would suggest not?

NYSE: Daily Chart @ Close 09/19/2014

Whilst the headline grabbing DOW & S&P500 score new record highs; the more relevant NYSE/ SML indices are failing to match such results.
Friday's Outside Down Day lends itself to another period of 'indigestion' for the broader market & perhaps the DOW/ S&P500 duo?

Daily Reversals: Do they matter in this Liquidity Rally?

S&P100 ($OEX) Daily Chart @ Close 09/08/2014

This aged Rally has been punctuated by Daily Reversals; some have mattered (early April) & some not (late June).
Will the one witnessed last Thursday?
Time will tell.