There are a rapidly growing number of blue chip stocks that are breaking down below key moving averages and levels of support:

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BA

BA

CAT

CAT

GE

GE

VLO

VLO

Add this to the persistent weakness in small caps, deteriorating market breadth, bearish seasonality and there are mounting warning signs that an inflection point for equities may be close at hand.

See also:

The Smart Money is Getting Worried

CAT Concern

Weekly Technical Market Outlook – 7/28/2014