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[nimblebear]

Unlike the significant decline last August, where there was nary a downside gap, there are daily downside gaps all over the place since the top in March on the NYA.

http://stockcharts.com/h-sc/ui?s=$NYA...amp;a=215382805

It wouldn't surprise me in the least bit if the '11 Oct lows are broken before the elections, and we get well below 6500 on the NYSE. and retest of 5700 in 2013.

The 200 MA on the weekly has been trending downward since at least 09, and the 50 MA on the weekly, has been in lockstep parallel down with it since August of last year. The NYSE peaked in April of 2011, and has been downward since, despite all sorts of QE worldwide. Or maybe I should say BECAUSE, instead of "despite."

Market's living on (QE) vapors past .

Just sayin'...