What I want to see:
- Penetration of the SPX daily upper Bollinger Band
- A touch or close brush with the SPX weekly upper BB
- Divergences -- breadth, volume, etc.
- A string of Hindenburg Omens and other signs of market internal instability
- VIX and volatility front-running and leading the decline, instead of trailing it
- Touches of the lower daily BBs for VIX and volatility ETFs
There's also that 30pt gap overhead in the SPX daily chart.
The surprise China decline, if it is halted here, gives us a lower trendline that sets up perfectly for a kissback in March and a crash to the 1600 level.