The SP500 closed lower by about 11 points on an afternoon selloff. Pricing is now below channel support – bearish. The MACD is pointed down – bearish. The 8MA is topping – bearish. We broke our December 10ish highs as expected. We also note divergence in price and MACD – bearish. As said many times before, the US Dollar remains the key – a higher US Dollar (supported by a falling Euro) will continue to help send these markets, indexes and commodities to the downside. A divergence between the markets and the US Dollar occurred today – the markets fell as did the Dollar – divergences like these often occur at or near major tops.