BigTrends

Seeing some bearish patterns here that signal some downside action ahead:

* Markets were jacked up end of month/quarter with commodities, tech and others marked up.  However, the heavy volume occurred earlier in the day when the selling was heaviest.

* The monthly close under 1060 was bearish as the candle that was created for the month was not able to exceed the critical 20 month moving average.

* Five distribution days (higher volume) in the last six is a sign that downside momentum is building.

* The VIX has formed a higher low on the daily chart and threatens to break higher and reach the 30 level once again.

* New highs have broken down and are not being exceeded.

* A plethora of secondaries were issued in September, bringing on more supply to a market not buying (price pressure).

* The anti-market trade, otherwise known as the US Dollar, seems to have put in a bottom.

* The reaction to bad news on the economic front is not shrugged off by traders.

These are just a few of the signs that I'm seeing here, there may be more.  Of course, any/all of these could just be fakeouts.  We'll have to watch the price/volume action to determine where the next path is.