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[arbman]

The market did not advance much after CCI-20 turned down and poke below 100. One of the key defects of this rally was NYSI never made over the Bollinger Bands either. It usually followed a sideways pattern, when there was one more high, a plunge quickly followed. This setup is unlikely to accelerate higher, however I think the market will make one more attempt from late this week or early next week until the second week of Feb, for now perhaps 2 days of sideways consolidation.

I think the problem with the bear case is the lack of selling pressure and remember Bernanke is still in office.

http://stockcharts.com/c-sc/sc?s=$NYSI&p=D&yr=3&mn=0&dy=0&i=p60440687999&r=1389781355234&.png