Probably not. Monday's decline was not a distribution day as volume declined on the major indexes. NYSE new lows was only 39, less than the 40 level that could indicate trouble. Support for the Qs is between 46.50 and 47.00 at the rising 50 and 200 demas.
This week may be choppy to the downside, but unless support is broken at 46.15, we should see higher prices before this rally is over. Look for a move to new rally highs beginning sometime late this week or early next week. Negative momentum divergences and breadth deteriotion at that time will confirm that a top is at hand.
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