Seeing potential for major downside based on just a gut feeling based on VIX not spiking, i.e. fear not gathering much steam and volume increasing but nothing even close to capitulation. In addition, the failed buy signal from 2 days ago doesn't bode well. Seems like much of the internet thinks support will hold around 185-187 in SPY from Aug lows and that we will get a bounce to short back into which makes me think it won't hold. In addition, support has already failed in $NYA and small caps. Indicator-wise, things are on buy signals for typical markets but we are probably entering a more dangerous phase of the market.