The last of the 3 pillars, Technology

 XLK made a new intraday high yesterday, it should have held it and should have seen follow through buying today, neither happened.

 My Custom Demark inspired indicator is showing a 2 day sell signal! This is a strong signal.

 On an intraday 3C chart, here's yesterday new intraday high, again a parabolic move into a 3C negative divergence.

 The 2 min chart finds the same negative divergence at the new high.

 The longer trend 5 min chart also shows the same failure of the breakout and the trend in 3C has been down, remember this is in the area I consider to be the danger zone for the market and we see these negative divergences in the major industry groups consistently.

 Here we see some accumulation and then distribution, this is specifically the danger zone in the market in the red box and the 15 min chart is a serious timeframe. This looks like massive distribution has been taking place for sometime and taken with the VIX readings as well as the SKEW readings, I think they should be given some serious consideration.

 The longer term 30 min chart has shown a few cycles, but now we are seeing the first really serous leading negative divergence, once again in the thin trade of the danger zone.

 The 60 min chart confirms the recent findings of the 30 min chart, also in a leading negative divergence.

For the first time on this daily chart stretching back to early 2010, we have a leading negative divergence in tech and we also have a recent, probable head fake as of yesterday. For newer members, a head fake is one of the last things we see before a trend reversal.