Bulls can't get it up - market breadth shows warning singals

After 2 days of relief, reality is catching up with investors and the S&P500 is back to where it where it trades last week.

Crude oil is back below $30 which adds to the pressure. Earnings that can't met expectations and companies that show significant reductions in capital spending also scared the markets.

The ADL at the bottom shows that the broad market is still trading lower and the recent 2 days of "bullishness" were only driven by a few companies and not a broad market bullish move.