Update

Well the market has dropped out of the ascending wedge, this is considered a break of the wedge if the close were to hold, but if you saw the two H&S tops at Trade-Guild last night, you know that I would first expect a false upside breakout before the wedge truly gives way.

The US Dollar has broken out of it's descending wedge, bullish if it holds for the dollar, but bearish for the market.

The one catch is I'm not seeing an appropriate level of 3C distribution with the sell-off, it should be much lower (the indicator), you could say by it's position that it's building a relative positive divergence. We'll have to see, but I kind of suspect they may be taking this own now to only take it up at 2:15. I'll just have to keep watching.