Daily chart of the cash S&P 500 shows the market clearly forming a pennant, a pattern which favours continuation of the down trend, and a move to fresh lows in coming days.
Next chart illustrates the top alternate scenario, that the pattern may morph in to a flag, which would require a rally. The market needs to rally through the top of the pennant before this alternative should be taken seriously. Til then, favour the pennant, but have plans in place for both scenarios.
Next a couple of charts of all sessions trade. The four hour chart illustrates parallel trend lines which have acted as both resistance and support since the peak.