The market appears to be gradually slipping away from the grasps of the bulls. The Nasdaq has failed to close at new new highs since November 24 which is over 6 weeks. While the Dow did close at new highs the week before New Years it was on very light volume.The S&P has failed to make new highs since mid December and appears to be topping. In these 3 indices there has been a noticable lack of volume on up swings while a surge of volume accompanies most down swings. To me the first trading day of the year was the most telling with the Dow advancing upwards to 12630 a gain of almost 170 points for the day before reversing, going negative for a while and than finally rallying enough to close up 13 points. The huge volume that day indicates that this could likely have been the peak of the current bull market.