Given the bearish context (here, support becoming fresh resistance at (1)); I am drawing in this new slope to downside and wait to see if we see some action at the upper parallel to confirm that it is live…
If so, it would line up well with warning signal flashing on the monthly SPX chart:
Flagged this weakness in the indices more than a month ago based on the bear Russsell ETF RWM:
Ex's Place 