Guppy Charts

Guppy charts are an interesting way of viewing the market.  To create the charts you plot shorter Ems 3,5,8,10,12, 15 and longer EMAs in a different color 30, 35, 40, 45, 50, 60...   The profit zones live in the the "white" area of the chart where the slower EMAs have left white space over the longer periods.

It is a useful exercise to look at weekly guppies on breadth charts.  The advance / decline line is clearly becoming bearish.  Although not there yet... this is not a a place where you want to stage a fight against the market trends.

The Dow Guppy has already created bearish white space

But the nasdaq remains in the thick of the fight between bulls and bears:

Summary
Trading is treacherous here and likely to break to the down side, but bears may be early as the Nasdaq remains in the thick of the fight.