Mr. Market is in a muddled state

Base Case:

The Spyder is exhausted (weekly Exh. Sum. Index) and sports a Divergence in the daily.

The MOMO picture says the same where we have a Div in the MACD (top chart) in a market that lost the big buying in 11-12/2010 (see flow MOMO on the bottom).

BUT some of the key stocks have already deteriorated a good way and are close to OVERSOLD readings. Stocks like AAPL...
...or look at Goldman, where the Chart looks broken and daily exhausted with still more room on the weekly Exh. Summ. Index.
Freeport has already reached a good level on the weekly.
Bottom line:

the Market is at a crossroads where....

...it didn't tumble althought FCX, GS, AAPL etc. took a beating (bullish case)

...the leading stock took the beating first and are about to pull the market into some downdraft (bearish case)