Can the Market Sell Off? These Indicators Say Maybe...

SPY, ES1!

I was surprised to see in the indicators lining up in this way. If you look at the previous times I've marked on the chart, we saw some pain following a 0 cross of the top indicator in addition to the action in the lower indicator.

I think people may feel caught off guard leading to some volatility but if this is the case, I would be surprised to see a dip lower than what we just experienced. Although that is very possible at these levels.