Friday's action was decisive and both SPY/ QQQ posted additional movement in addition to stoch crossovers by dipping below trendlines. We also saw a PMOBUYALL sell signal which although lagged a few days typically has been a pretty good indicator of short term trend changes. It is hard to say whether this will be a fast or choppy decline but we will see pretty soon and SPY volume should give us some clues. If I were to guess it won't be dissimilar to the choppiness of the Sept decline but as I am short for at least a 1-2 week window I will let my position bounce as need be.
SPY finally broke under the trendline that it has been weakly hanging onto.
The red blip in the previous uptrend creates the down signal