The good news is:

The Dow Jones Industrial Average (DJIA) and S&P 500 (SPX) closed at new all time highs last Thursday.?

?The Negatives

Hindenburg Omens were triggered every day last week.
The blue chips have been outperforming the secondaries.

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 SPX in red and NY NH, in green, has been calculated with NYSE data.

 NY NH fell as the SPX hit a new 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 turn upward last week, but, the number of new lows remained uncomfortably high.

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.

This is a very unusual chart pattern.

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.

This chart is neutral finishing the week at 50%.

The next chart is similar to the one above except is shows the OTC in blue and OTC HL Ratio, in red, has been calculated with Nasdaq data.