I believe that the current monumental divergence between the S&P 500 and other global indexes cannot continue indefinitely. The S&P 500 is within a hairs breadth of new record highs, while every other index around the globe worth paying attention to is floundering and trending down. Either the S&P 500, as the global gorilla, is going to drag all the others higher, or the S&P 500 is going to be dragged lower by all the others, or more correctly by the flood of capital away from stocks globally. Let's see. All sessions charts for all markets.
S&P 500 daily chart
Bonus 4 hour chart for the S&P. Parallel trend lines.
EURO STOXX 50