And for NDX
The negative divergences on the charts above are serious causes for concern and caution as long as they are there. Yet, as you can clearly see, price has ignored this so far. That shows you why price is the most important indicator and why, for a trend follower, it is important to adjust and re-adjust stops as price moves along the trend. Now imagine those who have been calling top after top after top for AAPL which has been a major driver of both S&P and AAPL.
Taking profit when internals deteriorate is something, shorting an uptrend is something else altogether. Shorters and top callers of AAPL or NDX have losses and that is the way it goes. Profit takers can think about depressed areas to perhaps find some opportunity
Gold Miners have been depressed bunch taking serious beating while internal breadth has been firming a bit
455-485 of HUI is important at this time. HUI must first get above 485 and not violate 455 after that
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