The bulls continue to control the global markets, but all nine global averages do not have positive weekly charts and the leading averages have become overbought.
The bulls controlled the week, but Transports and small caps in the U.S. and the Shanghai Composite and German DAX overseas show negative divergences.
The PowerShares QQQ still has a positive but overbought weekly chart, but risky levels for 2017 have been achieved, and the four other stock market ETFs are showing negative divergences.
Negative divergences observed on 8 of 9 global averages. India's Nifty 50 set a new high on Wednesday and has a positive but overbought weekly chart.