The Market Trend Model (http://bitly.com/M_Trend_Model) remains decidedly negative as bulls and bears battle for control of the market.
Some market internals are seeing lower levels that have not been seen in months. The high-low index (http://scharts.co/IuSfO4) has been falling steadily since June and is at multi-month lows. Also, the Nasdaq advance/decline volume (http://scharts.co/19gNyzU) along with the NYSE advance/decline volume (http://scharts.co/19gPAQt) remain in negative territory and they have yet to show that capitulation spike that is so common with a market bottom.
I expect the battle to continue as bulls and bears search for market equilibrium.