Stock Market -- Technical

Well, the amber caution light is now glowing more
brightly for the market. The SP500 daily now has
its 10 and 25 day moving averages turning down.
This is not yet the case for my NYSE internal
supply / demand model, but the SP500 commands respect.
There is a link to the chart just below. Note also
the negative head of steam for the MACD. Daily chart.

The weekly SP500 chart is on a link below. Here we see
that both the weekly stochastic and the MACD are closing
in on breakdowns. Weekly chart.

Both charts are signaling that the market is getting close
to turning down. They are not sell signals, but warning signs.
As such, one should pay heed, while recognizing that the
market can dish out surprises. I am edgy about this situation
because the Treasury Bond -- a driver of this spate of stocks profit
taking -- is getting quite oversold short term.