
Yesterday's wedge breakout cut back below the resistance line and is now looking at the 20-day/50-day MAs for support (on a closing basis)

The picture in the S&P is similar; again, note the disparity in peaks between the Percentage of Stocks above their 50-day and 200-day MAs for May and January - how will this map out with respect to the market?

My expectations are for markets to find support (by closing prices) at the 50-day MAs. Rally is mature for a bear market but it's not dead yet.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website