Yesterday's SPX chart contained several indications of possible topping of the secondary rally from the August lows. One was the touch of the bisect of the range from the all-time high of summer to the August low from the 2014 autumn low.
Another indication was the possible completion of Reverse Point Wave (RPW)* expanding triangles from that low and at the end of wave five of the larger RPW. There exists an even larger RPW shown here in August. All of these may be ending now. If so there could be a very severe correction coming up.
A third indication is the 2CS bearish sentimeter I have tabulated for 19 years. It has fallen to 75 as of today. This is an area for bearish sentiment at the tops of secondary rallies in bear markets in this century: in 2008 and in 2001.
A fourth possible indication is a setup for a Scottish method short trade entry for SPX tomorrow. I will add to shorts if this occurs and SPX closes lower tomorrow.
* RPW's (Welles Wilder) or Five Pointers (G9) have been known by many names, as outlined in Edwards and Magee's Technical Analysis of Stock Trends.