It shows price versus several different moving averages. It seems clear that the Index is rolling over. The faster, shorter moving averages are below the slower, longer moving averages -- not good and confirmation of a rolling over. And the Index price is "caught" underneath these moving averages (resistance).
Note how this compares versus 2001 and 2008. Eerily similar.
Also note how this compares versus late 2011. Then the Index price got below the moving averages, BUT the faster moving averages generally remained above the slower moving averages, AND the direction of the overall trend as per the MAs remained flat-to-positive, not negative.
Then things remained relatively bullish, esp. compared to now, where again clearly the trend via the MAs is currently negative -- like in 2001 and 2008.
I remain concerned.
