The Short-Term

A new short-term up-trend started on April-20, but this up-trend might already be starting to falter. 

The PMO index for the SPX looks like it might be topping out.

New 52-week lows were a bit elevated today. It isn't good to see increasing numbers of new 52-week lows while the market is pushing up at the top of the trend.

Sector Strength

I don't have much time to comment on this spreadsheet. What jumps out at me is that the small caps remain strong.

The Leader List

Biotech and Emerging Markets look ready to re-join the leaders.

Biotech looks good, but maybe I would wait for the next sell off to add to positions.

Outlook

The long-term outlook is positive, but it is time to start getting cautious again.
The medium-term trend is down as of March 21
The short-term trend is up as of April-20