Lower High, Lower Low

The three major market indices, DJI, SP500, and Nasdaq 100 finally have broken their support and made lower high and lower low. Although today's trading volume was on the light side, but don't be misled. When the market makes big drop with low volume, it is due to lack of buyers, not due to lack of sellers. Take a look at the charts below, you will see similar price pattern of lower high & lower low on many stock charts. This implies the trend change is broad base. Today's break spells the end of this bear market rally. I will be unwinding my longs and start preparing for the down trend.