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On November 17 I posted this comment: "The Retail Index very often leads the S&P's. Yesterday this index reached very long term resistance. It has reversed hard today down 1.85%. A move under $92.75 basis RTH would be very bearish for the overall market." The retail index is trading under Friday's low currently. A move to test support at $390.70 is likely. This area must hold or much lower targets are in play. These will be posted as needed. The weakness in retail is of concern for equity bulls as it will very likely lead the market down for the test. If it holds, a Christmas rally to test or make a new high is quite possible. If it doesn't, the economic weakness being forecast in bond market will drive stocks to much lower levels into the first quarter of the new year.