This is a great opportunity with 1:4 risk to reward ratio to short this market with a fair amount of reasons (indicated on the chart). A classic mistake is trading countertrend hence this could follow the parabola and shoot to new highs fairly easily.

This is just an idea, not advice! Good luck in trading the tough markets everyone!!
Chart PatternsFibonacci RetracementTechnical Indicatorsmarketstructuremedium-termrsidivergencesp500shortspdrSPX (S&P 500 Index)SPDR S&P 500 ETF (SPY) Trend Analysis

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