Given that the Dax topped out 12 days ahead of SPY, we may see more choppy-to-downward action before its correction is over.

FORBES: The Week Ahead: Will Overseas Markets Lead the Way?

Now, the daily technical action of the homebuilders suggests a further correction is likely before the intermediate uptrend resumes.

FORBES: Don't Buy The Homebuilders Now

Correction 11 January 2013: This story has been amended to make clear that the action the council is taking is to seek a legal injunction for harassment.

BBC: Rutland councillors could face harassment injunction