Let's take a look at a daily chart again. Notice the high volume coming in on the sell-side again. We are now testing the trendline made from July and will be KEY to watch this level. We clearly are having long liquidation and without new market interest this can be a clear warning signal.
Now lets take a look at the Market Profile chart. We are now seeing 4 days of lower value placement with decent volume. A clear warning signal? I think so.... we need to watch carefully on Friday and the following week. The markets have been moving in a consolidation to the downside for some time. Any break below the trendline and we can finally start seeing some decent trend days to the downside.
I will be very flexible the next following trading sessions. I am looking at short setups but at the same time watching out for any bounce. Technically speaking the charts tell me of many warning signals. Should be interesting.