SPX - Bearish

Bulls were crushed last week on high volume as basic materials and tech retraced hard.  The downtrend is almost confirmed - wait for the major indices to retest the 50/20 EMA and sell half of long positions and use those funds to add to short positions.  The trend has been severely damaged and I do see a continued sell-off to anywhere from 970 to 1050 once the 20/50 EMA is tested.  Do not be attached to any stocks.  It's time to take profits since the trend confirmation from April last year.