I am leaning towards the major turning point because the Dollar is still gaining strength, a break down below $75.63 on the buck would push the odds towards the Bullish view.
This chart should be VERY worrisome to the Bulls, the markets are not running on all eight cylinders and things are getting worse. As the indexes are pushing to new yearly highs, the number of new 52 week highs are going in the opposite direction, DOWN. With fewer and fewer stocks participating in making new highs this rally cannot be sustainable. The other part is the number of stocks making new 52 week lows, this is escalating to the upside, again this is not a sign of a healthy market with across the board participation.
The way this chart is trending, odds are really high we could see another Hindenburg Omen with-in the next week!!!
Trend Finder II has been updated with both the Weekly time frame as well as the Dailies.