Only the Russell 2000 shows evidence of strength, it's bullish 'buy' triggers holding in the face of recent selling, but for how long?
Sentiment indicators also struggled; the nascent breakout in the Bullish Percents dropped back into its prior consolidation, but are well off their lows (not a good thing)
Same for the S&P Bullish Percents (and it crept in with a 'sell' in stochastics):
Stochastics for the Nasdaq Percentage of Stocks above the 50-day MA switched to a 'sell' signal adding further bearish pressure to the Nasdaq
Summation Index completed its reversal off resistance:
Dangerous times for markets; sentiment suggests the 'Santa Rally' was nothing more than a 'bull trap' and considerable losses could follow. Price action suggests a test of November lows, but nothing to say markets can't go lower.
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts and stock charts website