My 60-min Trend System finally rolled over and issued an official sell signal today. See here and here (These updates are sent out as part of my Trend System Notifications).
How far will it go down? I have no idea. But here are a few points to consider: This is OPEX week, so expect some craziness (volatility early in the week, with nothing straight up or down). Also there are several key companies reporting this week (see: here, h/t Tasty), which should add to the 'fun'.
Here are a few levels for both shallow retraces and deeper retraces: