The S&P Equal Weight is holding nicely in a sideways pattern, but the bullish percents continue to point lower. We’ve seen this before. The market pauses while the overbought condition is worked off.
 

Momentum is still pointing lower too, but now it is getting to a level where we start looking for the next short-term uptrend.

There are still too many new 52-week lows. This indicator confirms the downtrend (sideways consolidation). When these new lows dry up and are reduced under the 50 level, then the stage will be set for the next short-term uptrend.
 

The gold miners are pointed lower. Am I the only person watching the miners anymore?
 

Tech has decided to completely ignore the rest of the market and do its own thing which is to move higher and higher.
 

The Short-Term Leader List

The strongest ETFs are blue, the additional leaders are green and the weakest are red. The S&P500 is the benchmark. Disclaimer: This list is not a recommendation to buy or sell.  

Energy hanging in there above the 200-day.
 

Utilities pushing higher. I prefer this group on the dips rather than the breakouts.
 

Biotech forming a new base near the 50-day. I like the looks of this.
 

Outlook

The ECRI index has bottomed out and is pointing higher.