Market this week

So here is what we're looking at as far as the broad markets go:

Dow Jones:

So again it looks like the Dow Jones is still in a downtrend but this week will be affected a lot by the earnings reports coming out. The MACD still is showing a negative trend-line and so too is the RSI.

S&P 500:

Now this down-trend seems to be a bit more valid as it has 3 points on it. Furthermore it looks like the histogram has leveled off and the MACD has not gone above the down-trendline, and again the same is true with the RSI as with the Dow Jones.

It looks as if both indices will go back down to test the 1350 area for the S&P and the 12,500 area for the Dow Jones.

If either breaks above that down trendline decisively then the bulls might have a case that the "bear market" is finally over but that would take a decisive down-turn for crude oil.