The Market Trend Model (http://bitly.com/M_Trend_Model) turned decidedly negative during the week as the bears finally took control of the market.
Interestingly, the Nasdaq churned around its 52-week highs for a full month before finally collapsing. Even Friday's extremely oversold conditions could not bring out the buyers (as occurred two weeks ago) when the market was at similarly oversold levels. This may auger for a more traditional correction than the market has seen for many months as buyers seem to have finally become exhausted.
In a government manipulated QE market I would expect some severe volatility during the next few weeks as the market searches for an equilibrium between buyers and sellers. It may be prudent to stand aside for awhile to see how all this shakes out.