Forget the Dow, the only real weakness in the market today was financials. However, the overall weakness in the market recently has been attributed to the increase in the yield of the 10 year treasuries. A weekly chart shows an interesting pattern. We have a nice double bottom base following last years peak (the vertical lines represent last years May-July correction). The circled area can be interpreted in 2 ways: Either it is a reversal and a start of a new downtrend, or it is a pullback, getting ready to break out past the resistance line to new highs. My guess is the latter.
Charts courtesy of stockcharts.com