The indications don't get much more clear than this, a decisive break of the channel with 5 years of consecutive rally leaves the market much room to fall. We need not look at anything but the monthly chart to come to these conclusions. The MACD is crossing over, and RSI is overbought, the SMA's have been broken. All rallies going forward should be considered corrective, and I expect the market to continue its decline for a minimum of 6 months.
I am currently sitting in cash since in deflation cycles, cash value increases while assets decline in value. I encourage everyone to refrain from spending too much during Christmas as tough times seem to be ahead. And I would like to leave on a positive note, the market will continue to grow as it historically tends to do , these corrections are how the market works, with every consecutive year of gains, it increases the odds for deflationary years.