It does look bearish in the short term.

                         
SPY Market Forecast 68.02 Short-term bearish pointing down in the middle zone                
   0.51   PCALL - 10 day SMA (0.75 - 1.00)                  
   134.3   SKEW (120 - 135)                    
                         
INTERMEDIATE TERM: Uptrend- Price above 30 &10 Wk SMA                    
  6-months UP                      
  10-days DOWN                      
  3-days DOWN                      
                         
Indices                         
UP:                            
Down:     IWM -1.51% ; SPY -2.00% ; DIA -2.05% ; QQQ -2.10%             
                         
  TLT -0.60% at 152                    
  VIX +9.53% at 33.09                    
                         
Sectors                         
  0 sectors closed higher led by  XLU -0.54%  and  XLV -0.84%    Lower =  11            
  2            closing above 30d. SMA  and 9   closing below.      
                         
XLU leaders     :    DUK, XEL, AEP, D                    
XLV leaders     :    TMO, ABT, PFE, LLY                    
XLRE leaders     :    CCI, EQIX, PSA, PLD                   
                         
Uptrend XLV, XLC, XLB, XLF, XLY, XLK                      
Sideways XLU, XLRE, XLP, XLI, XLE                      
Downtrend                        
                         
                         
Breath:                         
NYSE Weakened  as  Decliners led  865   to   2312 and  Nasdaq   Weakened  as  Decliners led 1145   to   2754         
                         
                         
NDX Leaders:                          
12 closing higher  and  91 closing Lower                   
WDC : +7.18% ;  SWKS : +5.92% ;  BIIB : +5.50%               
                         
DJIA Leaders:                          
1 closing higher  and  29 closing Lower                   
MCD : +0.49% ;  CRM : -0.42% ;  IBM : -0.81%               
                         
SP500 Leaders:                          
60 closing higher  and  444 closing Lower                   
WDC : +7.18% ;  SWKS : +5.92% ;  BIIB : +5.50%               
                         
NASDAQ 100                        
                         
Nasdaq Above 30MA    =  33                      
WDC, SWKS, BIIB, DXCM, GILD, ATVI, QCOM, EA, EBAY, MU, AVGO, CERN, WBA, INTC, NFLX, GOOGL, NTAP, GOOG, NTES, SIRI, FOXA, CTXS, FOX, ASML, PCAR, AMGN, ILMN, MSFT, MELI, KLAC, BIDU, AMAT, TSLA   
                         
Stocks to watch on  Monday                      
                         
 Nasdaq100  xsing above30   = 1                     
  ATVI                       
                         
 Nasdaq100  xsing below30  = 19                     
  CSGP, REGN, AMZN, KHC, SNPS, INCY, CSCO, ZM, TXN, CDW, ALXN, JD, CHKP, LBTYK, AAPL, ULTA, CMCSA, LBTYA, CHTR            
                         
                         
MACD Crossover:                       
Up   2                      
SWKS, DXCM                        
                         
Down   14                      
EA, CERN, NFLX, GOOGL, GOOG, ADBE, NTES, FOXA, FOX, PCAR, MDLZ, CHKP, AAPL, CHTR