Over the weekend, I wrote about the 'hitch' pattern in the Nasdaq momentum oscillator that the RSI missed.  The market sold off hard yesterday and is opening weaker today.   While I can not rule out one more push higher, I believe the bear is once again beginning to growl.  There have been warning signs all over this rally, like the dismal performance of the NYSE Composite Index, the weak push higher in the NYSE Advance/Decline line, and also the time cycles that ponted to Aug 18 - 19 as the prime window for a reversal.  All of these issues were addressed over the last couple of weeks in this space.  Below is a weekly chart of the Dow.  Notice how this recent rally has stalled at the upsloping trendline connecting the April 2005 and July 2006 lows:



This market is still weak.  I had uspide projections to 12,000 on the Dow and 1325 on the S&P500.   The Dow stalled at 11867 and the S&P stalled at 1313.  The Nasdaq stalled at the 78.6% retracement level of its May - July decline.  A test of the July 15 lows looks to be developing.