While crypto is currently considered the worst thing that has happened to mankind since the gas chambers, it is worth mentioning that the S&P is also down by almost 2% today. Since the indices are trading at the same prices they were trading 10 days ago, it is reasonable to ask yourself, "Is it fucking over? Am I going to die?" Let's take a look at the SPX, which is also somewhat relevant for crypto, as a market-wide correction would likely trigger most altcoins to go negative at this point. breadth Since trading the index is somewhat complex, as it consists of 500 different stocks, and there are just a bunch of other stocks to trade, it is worth tracking the overall breadth of the market. The above indicator, which is the z-score of the adv/decline of NYSE stocks, has been proven over the years to be a good gauge of bull/bear markets. We are still in bull market territory as the indicator is above 0. I saw a bunch of people point out the divergence between the index and breadth over the last weeks, which was something that preceded the 2022 bear market. Which I think is interesting, but I'm also not a big fan of pre-emptively shorting the market with positive drift to play hero on the internet. vix One very reliable place to look for "oh-fuck" moments will always be Vix, which is still looking okay so far, with term structure in contango. I am mainly looking at the ratio of VIX3M/VIX, which, when it drops under the 10th decile, usually brings pain. While this is often the best place to buy stocks, it is preceded by selloffs that people usually don't anticipate, anyway. Currently, we are not yet there. credit last thing I like to pay attention to are option-adjusted credit spreads that measure the premium that junk-rated bonds demand over investment-grade bonds These are being elevated at the moment, signaling a demand for more yield to hold higher-risk bonds. tldr I think shorting the market, which historically goes up, is silly. Every time I shorted the SPX, I had to feel very confident about it (and even then, I got burned most of the time). Also, why would you short this when Ethereaum exists? Jokes aside, I would probably not feel very comfortable going all in on longs here, but also don't think it's smart to play a hero trying to sell the top. While some indicators are showing early warning signs, the overall trend and momentum remain positive. Under 6700 on spx I would probably try to play a hero (which I will also likely regret later)