There are four dimensions to analyze any market; Price, Time, Sentiment , and Momentum.
Currently for the US stock market the most important dimension is Momentum. Note the multiple daily RSI bearish divergences on the IXIC.
To have a clear picture of bearish momentum look at the new 52 week highs for the NYSE and Nasdaq Composite. Stockcharts.com has charts NYHGH and NAHGH that show outrageous bearish divergences. Most stocks are already in a bear market.
Today 7/20/17 is the two year anniversary of the Nasdaq Composite 2015 high just prior to the mini crash. The US stock market is in the same condition as July 2015. A mini crash to the November 2016 bottom by late August 2017 is a high probability.
Short Stocks!!
PS - My post earlier today noted a possible Ending Diagonal Triangle on the intraday SPX. Subsequently the SPX went below what was listed as wave "4" of the EDT. Its possible the EDT was completed with a Truncated wave "5" If so this is a double bearish signal and implies a sharp decline on 7/21/17.