Stocks came under selling pressure in early March and this selling pressure intensified on Friday as the S&P 500 lost 1.42%, which was the biggest one day decline since late January. Even so, it is just one week of selling pressure and not enough to affect the long-term uptrend. As the chart below shows, the S&P 500 hit new highs in November-December, consolidated with a triangle into January and broke out in February. As far as the trend is concerned, the new highs affirm the long-term uptrend and I do not see a major topping pattern taking shape.