After Monday and Tuesday, explosive days where Bulls dominated the Market, today there wasn't that much change. If the rest of the week continues like this, it will be a signal of weakness. The S&P needs to close above the weekly resistance of 4,709 and the New Lows stay at low levels.
The chart below, a 39-min chart shows the action today.
The weekly trend shows even less changes since yesterday. Until the S&P finds a direction, another powerful rally erupts or the Bears decide to fight back there isn't that much going on in the Market.
The charts and the numbers (column G and H in the screenshot below) give the impression that the selling pressure is lower.
