The 5 minute chart below shows that soon after 3:00 pm the market turned bullish with increased volume. It bounced back from the 200-period moving average like a tennis ball. An excited way to end 2013. Next year we will see if there is more room to go higher.
$NYMO, the NYSE McClellan oscillator turned negative in November and stayed negative for the most part. It turned positive twice since then but stayed below 50 even though $NYA moved higher. Since the McClellan oscillator is a breadth indicator calculated from net advances, staying below zero means that declining issues outnumber advancing issues.