The 3 Pillars

Technology, Energy, and Financials, without support from all 3 of these sectors, I have never seen a rally been able to sustain itself. Sure there's rotation in certain markets, but recently the markets have been highly correlated, this isn't really what you'd call a stock-pickers market, it's a market in which you have to know what the right tools are to deal with the volatility, be patient and wait for the highest probability set ups and then be ready to make adjustments on the fly. It's certainly not a systems trading market.

Here's what the 3 (in my opinion) most important of the 10 major sectors look like and to me, it looks like all 3 legs have been knocked out.

Energy

 Remember that August 2nd saw market wide accumulation, this wasn't by chance. 2 min Energy

 3 min Energy hitting a new leading negative low today

 5 min Energy (the red box is a leading negative divergence, this is worse or more powerful than a relative divergence represented by an arrow).

 Energy 15 min with a pretty strong leading negative move today alone.

Financials

 1 min hitting a new leading negative low as Financials try to make that pivot.

 2 min Financials moving to a new leading negative low

 longer view of the 2 min trend in Financials, note Aug 2nd.

 Financials 5 min leading negative

 15 min in a leading negative position

Technology

 A lot of intraday damage being done today, the red box is today only at a new leading low below the 2nd of Aug.

 5 min seeing a lot of damage today as well, red box is today only.

 15 min chart hitting a new leading negative low, almost back at the June lows, this is bad.

30 min is in a deep leading negative divergence