The NYSE composite chart gives a clear picture of what might happen in the near future which is a selloff right down to the 40 week moving average. In the last 3 years, all corrections have been right down to the 40 week moving average where a consolidation phase starts before any moves higher. Any significant violation of the 40 week moving average means a change in the trend and the start of a bear market. One might look at the markets right now and state that the momentum will continue on seeing as their stocks seemed so strong today. However, the market takes no prisoners and only gives mild hints of whats about to come. When it does selloff, it does so much faster then when it rose. There have been two rules of the street in the last 3 years. Buy on dips and dont get caught on margin when the dip comes. You know when your in a dip, but the next question is when the dip will happen. The following chart I am about to display only needs common sense to interpret.