Often looking at data covering what's going on within an index can help us determine our next move.  Today let's look at some composite data on the S&P 500 a market at an inflection point.

The parallel lines on the price chart show an uptrend perhaps getting a little tired, certainly at an inflection point.  The A/D line is right where it peaked previously at the November high.  The second indicator box is advancing volume minus declining volume dollar weighted; it too is at the same high points reached in October and November. 

The third indicator box is our dollar weighted buying and selling pressure. This indicator takes the dollar weighted up volume divided by the dollar weighted up volume plus down volume; a percent if you will.  The blue line is the buying pressure orange line selling.  Notice how in August/September the buying/selling pressures were about even, the buyers were just not able to gain control of the market. The second arrow shows the point where the sellers began to gain control; right around S&P 1200.  Now once again this indicator is in somewhat of a confluence; the buyers need to gain control soon or both indicators will turn negative as they did last August/September.

The final indicator box is an internal measure of relative strength developed by Charles Kirkpatrick II CMT.  I added it to this chart because it appears to be indicating the buying may indeed return in time to stave off another decline.

All in all this chart tells me the market is right at an inflection point and if the trend higher is to continue it had should get on with it soon.