Dow futures have tested the July peak and subsequently broken below trend line support.
Zooming waaaay out to the Dow monthly chart suggests that it is putting the finishing touches to a giant bearish megaphone. A decline below the 2009 low will be the next major trend for US stocks. Said decline may have begun at this week's high. Keep an eye on European and Asian markets, which are painting similarly bearish long term scenarios. I posted charts earlier today for the DAX (Germany) and Hang Seng (Hong Kong).