The Dow Jones Industrial Average is showing underlying signs of weakness as large institutions have been quietly unloading shares on strength. In his book, "The Successful Investor" William O'Neil writes about distribution days, a day when price declined and volume was heavier than the day before. He says that when 3-5 of these days occur within a month, there is a good chance that the market is getting ready to roll over.
In the past 4 weeks, we have seen 6 distribution days in the 12700-13000 price range. You can see a similar occurance when the market topped in October: there were 5 distribution days in a small price range, and then the market started its downtrend. I don't see a reason why it won't be the same now. This is more evidence that we could see another significant decline.