Well, the pink channel finally lost the battle. Price finally clearly closed BELOW the channel I have been posting about. Also, did you notice the “color change” on the chart? FOUR of the last SIX trading days are red candles, and it has been months since that ratio has been seen. Just one of those subtle differences you notice after looking at charts for a long time. Overnight futures’ price action has been heavy since last week, and it is weighing on our markets. It could all change in a moment, but for now, price is flashing a minor yellow light to pay a little closer attention. A visit to the blue dashed line, the 50-day moving average (still rising), would not be unusual near SPY $254. Breaking back into the pink channel and closing inside would be a good sign for the bulls. But for the here and now, the bears have the short term momentum. If you have some cash, you might have an opportunity to make some purchases over the next few months if we can get a nice 10% correction!