The big sell off in the U.S. stock indexes Monday negated a near-term price uptrend in place on the daily bar chart for the e-mini December stock index futures. That’s a solid technical clue that a near-term market top is in place. See, too, at the bottom of the chart that the MACD indicator is in a bearish posture. The bulls can correctly argue that the stock indexes have shown keen resilience for the past many months–rebounding from big sell offs and scoring new highs. Trading action the rest of this week will be extra important for the stock indexes. Stay tuned!