The broad up trend since the June sp'1266 low is over. It would be highly suggestive that we won't put in one final higher high.
The SP, NYSE, Nasdaq, and Dow are all below the lower channel. Only the transports and the hyper-ramp Rus'2000 small cap index are yet to break below their channel
Baring some truly bizarre intra-day ramp, with a green close, this market is going to break the recent 1310 resistance, then 1300..and quickly break 1266.
VIX is still only showing a moderate gain, but the SP' has broken 1330..and is now arguably a giant red warning flag to traders.
We will doubtless get little micro-bounces along the way, but in the bigger picture..it does look like 'its all over bulls'.
I am now looking to re-short via the 15min cycle later in the day.