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A couple of comments on the preceding charts...

The SPX is up above the 65 day Keltner Channel with waning momentum.

BPNYA is also waning, but not severely and it is up at a relatively high level.

The relative strength of RUT and COMPQ is a bit grey... both ratios have signs of relative weakness but again the weakness is fairly tame and there is also some signs of relative strength.

The NYMO has some genuine divergence on the board, but this is the weakest of indicators for short terrm divergence.

NYSI is trending up in the short term but still carries the setup for a longer term divergence.

VIX is hugging the bottom Bollinger Band and the support of previous lows.

CPCE has turned up from a top worthy level.

NAAIM is again over 100 and at a high level.

RYDEX asset allocations appear to be going to an extreme!


Conclusion:

Prices and sentiment have reached overbought levels and divergences have started to build.

In my view the conditions are in place for a top. It has either recently been put in place or will occur in the relatively near future.

The first Saturn-Uranus trine was exact yesterday and appears to have overpowered the Jupiter Uranus opposition (as previously anticipated).

The XSO has been showing some considerable weakness relative to the XJO so an even stronger bearish argument is in place for the XJO.

Merry Christmas!  : D