The major U.S. stock indexes are trading at 12-month lows this week and the bears are in solid near-term technical control amid price downtrends in place on the daily bar charts. There are no strong, early technical clues to suggest the stock indexes are close to bottoming out. The path of least resistance for prices will remain sideways to lower until a strong chart clues suggests otherwise. And you will get those early significant technical clues on price trend changes in my daily afternoon market reports. Stay tuned! —Jim Wyckoff