Weak market, quite a day!

Notice the upper chart of the $SPX. We have already breached the exponential trendline that has been the primary support for the rally from March (the trendline with the black arrow pointing to it). If we now go on to breach the deeper trendline (pointed to by the green arrow), then in my opinion the Bear has probably returned. Further confirmation will be there if we see an 'Elliott' 5 wave pattern in the decline.The light blue arrow shows the only correction that occurred since March that was deep enough to use this lower trendline for support. On the $NDX chart you can see the same correction, and though I haven't highlighted it, you can see a deep trendline (thin and red) that provided support, and this will be breached also, if the rally is over...