We have further to go, but resistance looms overhead.
The biggest pullback of the year generated little concern.
The shift from a rising market to a falling one is becoming clearer.
Aggressive traders should look at the short side of the market.
Despite the pullback, we remain in an overbought condition.
It looks late to buy but there's not enough evidence to justify going short.
Traders are getting unrealistic in their expectations.
The five-day and 10-day Arms Index readings are pointing to a drop.
The advance is slowing, though we have not yet seen a sign of weakness.
There are no levels we can look at as likely stalling points.