$NYMO massive negative divergences

Markets are showing massive negative divergences. The NYMO daily is showing lower high since the March 6 low as we can see even though the price is continuing to move higher, the NAMO is making lower high. This is clearly a sign of distribution and weakening momentum which is confirmed with the low trading volumes. Massive buy program in March low is now in distribution mode as we heard that big institutions are taking profits. Even though we heard the news today, the market internal was showing distribution as we can see continuing negative divergences.

$NAMO is just one example of most of breadth indicators showing neg Divergences.