The good news is:
All of the major indices are near their all-time highs.

The Negatives

The Hindenburg Omen was developed by Jim Miekka to identify a high likelihood for a bear market. It is triggered when NYSE new highs and new lows both exceed 2.8% of issues traded while the NYSE composite is above its 10 week moving average. When a Hindenburg Omen has been triggered it is in effect for 30 days. A Hindenburg Omen has been triggered every day this month except last Wednesday.

The first chart covers the past 9 months showing the Nasdaq composite (OTC) in blue and a 10% trend (19 day EMA) of Nasdaq new highs (OTC NH) in green. Dashed vertical lines have been drawn on the 1st trading day of each month.

I extended the duration of this chart to 9 months to show the progressive deterioration of OTC NH while the index was rising.

The next chart is similar to the one above one except it shows the S&P 500 (SPX ) in red and NY NH, in green, has been calculated with NYSE data.
 NY NH has been a long way from confirming the strength in the SPX which finished the week 0.3% off its all-time high.  

The next chart covers the past 6 months showing the OTC in blue and a 10% trend of Nasdaq new lows (OTC NL) in brown.  OTC NL has been plotted on an inverted Y axis so diminishing new lows move the indicator upward (up is good).

OTC NL did not turn upward when prices moved upward last week.

The next chart is similar to the one above except it shows the SPX in red and NY NL, in blue, has been calculated with NYSE data.

NY NL continued moving downward last week as prices moved upward.

The Positives

In spite of deterioration of the breadth indicators prices have not broken their upward trends.

The next chart covers the past 6 months showing the SPX in red and a 40% trend (4 day EMA) of NYSE new highs divided by new highs + new lows (NY HL Ratio), in blue.  Dashed horizontal lines have been drawn at 10% levels for the indicator; the line is solid at the 50%, neutral, level.