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.
The tech-heavy PowerShares QQQ continues to show strong momentum, while the other four stock market exchange-traded funds are beginning to show negative technical divergences.