Two weeks ago, the DJIA surged almost 300 points in one day and the market cheered. All was great. Last week, we closed above 14,000 and the market cheered. All was great. Today, we get a 200 point decline on the DJIA and the mood is suddenly dire. What’s all the drama about? On Sunday night, I commented on a very rare divergence in the 3,689 stock charts I studied this weekend (click here.) 72% (2646) declined last week but despite only a 1% drop in the S&P 500, I saw extreme negatives with 639 stocks declining by 5% or more. A big advantage of one guy (me) looking at all the charts and not just 1 chart of an index is that I see a much clearer picture of the action. As a result, I gave 359 new DOWN signals versus only 42 new UPs and a 9:1 ratio like that is worth noting. However, this market should not be underestimated and it will not take much positive talk to scare the bears or embolden the bulls. It’s happened repeatedly and until it doesn’t work, don’t count out the bullish run.