Listen, I’m not some doomsdayer, or person who tries to call the tops in the market. I take what the market gives me and as a result I have been long on this market for well over a year now, and hardly ever find a reason to short it. 

But today is a bit of a game changer.

We break the 50-day moving average yesterday with the follow through today. 

Then we break the long-term uptrend off of the November lows. 

Which also coincides with a bearish wedge that has formed over the past few months. 

So there is a lot to be bearish about – see for yourself:

Here’s the bearish technicals of the SPY:

 spy bearish move 10-8-13

Source: SPYposts.com