All three moving averages are still in an uptrend on the daily timeframe; however, the 100 and 200 smas are beginning to flatten, the 50 sma has hooked down, and they are merging...a possible sign of a reversal-in-the-making. In fact, the 50 sma has crossed below the 100 sma on the Nasdaq 100 Index, and is getting close on the other three Indices...reflective of recent weakness and profit-taking, particularly in the Technology index.
A 20 sma has been added on the next close-up shot of the chartgrid. This moving average has crossed below the other three smas on the Dow, Nasdaq, and Russell, but not on the S&P, yet. Looking at these four moving averages, they are all still in uptrend (higher highs and lows). However, I'll be keeping a close eye on the 20 sma on the SPX, in particular, to see whether it crosses below the 200 sma, and I'll be watching to see whether price on the SPX breaks and holds below the important 1400 level mentioned in my post of November 30th. A failure of the 20 sma to cross back up above the 50, 100 and 200 smas would likely signal that further weakness has entered the markets, with the potential to see it make a lower low.