It's Saturday Morning Chartoons time. You can read more about the reasoning behind this post here.
We're just interested in aggregating all of the charts we put together throughout the week and organizing them all into one, easy to flip through deck.
One thing that stood out to me this week is the lack of deterioration underneath the surface.
We're just not getting an expansion in new lows.
Fewer new highs? Yes definitely. For a while now.
But more new lows?
Not broadly speaking yet, no.
For the indexes to go lower, you need more and more stocks going lower. It's just math. 
And even if you look at short-term new lows, we're not seeing expansion yet either:
So for me, that's what I'm watching.
Is the market vulnerable for a correction? Yes.
But without an expansion in new lows, it's hard for the indexes to fall.
One "Heads up" about which way things will go will be the Aussie/Yen cross. Look at the coiling going on:
The resolution here in $AUDJPY will certainly be telling. My suspicion is a breakout here will make it very hard on stock market shorts.
A breakdown, however, is likely happening in an environment where stocks are under further pressure.
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