The S&P500 is on a sell signal

The SP500 broke its uptrend but has done it before when breaking the heavy downtrendlines drawn below. There is key support at bottom of its selloff last week. The first resistance level is 1100, then 1150, and finally 1250. So the SP500 is on a sell signal, but it is too soon to say that we are in bearish territory. The yearly trend has been up so don't fight the trend, but of course we can pause and step back.