Lets review the real stock market, and not the Wall Street marketing tools like the S&P 500 and the Dow Jones Industrials. The truth is ‘distribution’ has been active for the last 18 months.

After a period of distribution and major market players have sold all they are going to sell, the major market players will either load up on ‘shorts’ for a down swing or wait for a time to re-accumulate ‘longs’ for higher prices, as this is one week before U.S. elections you can understand that the major market players have yet to decide which way it will go.

NYSE (1800 to 3000 stocks) : No new highs, sideways action, supply keeping the market down.
 

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Russell 2000: No new highs, sideways action, supply keeping the market down.
 

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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net