Update

Despite the fact of bear markets having as many or more up or unchanged days then down days, it seems the play is to short the afternoon sugar rally and cover the morning gap down. However, that is to say nothing of the trend which we'll look at later.

Some of the same weird signals from yesterday are showing up again today.

 Yesterday it wasn't that pronounced, today though the SPY is well north of the commodity index CCI which should rally with the market and as you can see, hasn't.

 Again, the leading investment for institutional players, credit, just like yesterday is way underperforming the SPY/market.

 The DIA is in a leading negative divergence, but today it's worse then yesterday if you look at the two red boxes, prices are at the same relative level, 3C is making new lows.

 Here's the SPY unchanged mark at the top rd trendline, resistance 3 times with a decent dump on the first break, I imagine we'd see the same if the upper trendline were broken to the upside and then to the downside again as far as volume goes.

And the SPY is in a leading negative divergence, I didn't draw in the relative comparison areas, but you can see where price was the same and the difference between then and now in 3C.