DJIA Making new highs, HOWEVER! LOOK AT the Transports? are they confirming up here? Today not yet 5209 Transports level to watch. And a break out over 5226. So far today the Trans are showing negative divergence. Secondly look at the Baltic Dry Index at 2008 lows. Also NASDAQ looks like resistance here. Prior late October highs. Also for move higher ES needs to close ABOVE 1297.50. Notice ES DAILY MACD October 28th HIGH, MACD TODAY is LOWER while ES makes new highs. Divergence. ES Stochastics are overbought on daily and on weekly. SPX 1307 (1302 ES) is a 78.6% FIB for 2011 Range. Another negative divergence VIX has not broken 20.98 low on 1/11/12. Another area of risk apeitite, HYG (high yeild bond etf) put its high on 1/3/12 and looks like maybe possible H&S on hourly. I didnt attach the charts but please feel free to look at these charts to confirm this analysis.