Where are the Bulls?

The daily charts for all the market indices have turned red and look quite bearish, at least for the short term.

The $COMP index closed below its 200 sma today, and near the low of the day's range. IF we cannot close above the 200sma by the end of the week, THEN I will be looking for continued downside selling pressure.

The $RUT index can't seem to climb above its 200 sma, and now has a "blue ice failure" pattern for further downside. The low of July 21st at 668.59 needs to hold for this market to continue up. The weekly chart shows the market is sitting right at the 89sma for support. IF that gets broken, look for that to be resistance.

The $NDX shows weakness, giving back all the gains of last week. The low at 1446.77 of July 18th needs to hold for this market to move up.

The $INDU is looking to go test the 200 sma, and the July 18th low at 10683.32.

The $SPX closed today below its 200sma. So far, the .382 fib level is current support together with the 34ema. We shall have to wait until tomorrow to see whether the bulls will come out to take this market higher, or whether they will stay on the sidelines and let the bears have a little fun.