hmmmm

If you squint hard enough things are actually looking a tad bullish here.  It's possible this is turning into another bullish impulse wave which today held a 61.8% retrace.  Price actually coiled/consolidated against this level for 90-minutes until breaking higher into the close and looks to be breaking out from this down sloping trend line. 

SPY - Third test of support, followed by a momentum push up and a tight flagging retrace which held its 61.8% retrace today). So long as these 22nd lows aren't breached we'll have a higher low off of support (so we will next have to take out the 27th swing high above $119).  If bulls step up at $119 price could launch higher.  

IWM - $64.5 support held and price sprang higher today, a similar double-bottom that occurred in early September.  Looking toward $67.5 resistance while a break above $68.50 could keep prices going higher.

QQQ  - Double-bottom after Aug. 22nd and price has held $53 on numerous tests since then (big level to watch if we happen to move below it, otherwise to $55-55.5 resistance and a move over $56 could extend a move even higher.

DIA - a double bottom at $106 followed by a momentum move that is currently flagging.

There seems to be a case for the bulls here (at least for a relief rally), the ball may be in their court, we just need to see follow-through in that direction.  Of course upper resistance will be shorted, but that may be the exact catalyst a rally requires (short covering).

Also worth watch for a clue is how Crude performs out of this trend line after successfully testing the $78 support (though volume sucked at the most recent test)

And here's the ES; broke out of this channel/flag following a bullish impulse off of support.  Volume at support on the 22nd was quite strong.