FIVE OF SIX INDICATOR TRIPS SEVENTH SELL SIGNAL

A new toy I've been playing with is the MMTW (% stocks over the 20 day moving average).  I've noticed when this thing exceeds 70% it has a tendency to predict relatively accurately an eminent decline on a cross back below the 70% mark.  Today was that day.  Last post we were tracking a diagonal which was initially thought to be the fifth wave of the sequence, but only turned out to be wave v of the third wave.  Wasn't the first time I've been off by one and I'd be willing to put up a pretty sizey chunk of change on a wager that it won't be my last either.  Below is a combination of the S&P 500 and the MMTW.

On the long term S&P chart to the right the MACD is currently close to issuing a sell signal and the histogram has been slowly bleeding off momentum as the price action has muddled along sideways over the past week or so.  Short term looked like three waves into the highs which would indicate a flat or something of the like.  I'm currently looking for a five wave down sequence to complete the decline, but it would appear to just be kicking off the third wave and with the other indicators indicating the bears may have the ball I like the short side here.  Initially (last night) I wasn't very confident in this count, but it seems to be playing out well now so this is what I'm sticking with unless a curve ball gets thrown into the mix. Getcha' some!