The S&P on a weekly basis still shows it is bullish. The concern is that the stochastic has crossed and the MACD is about ready to. If that happens then S&P will be mid term bearish.
The Russell Index is the most telling. The price is between the 8 day and 21 day moving average for the week. Also the Stochastics have turned as well as the MACD. This is starting to show weakness in the market.
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