This is one of my oldies but goodies.  

Methinks that complacent longs stand a good chance of getting a  6% to 8% down move in the next  few days to few weeks.

The Bond indicator is on the bottom.   

 

The red lines indicate a "bottom" on the indicator, and most often a subsequent down move on the index (using SPX here)

The green lines are for tops on the Bond Indicator, which often immediately starts a up move on the SPX index.    Check it out.

Additionally, I have found that multiple deeper bottoms form an "Egg Formation".   And when the last dip into the egg is parabolic down, that often signals a large up move.   The best dips down are a sharp stab into the egg.   i.e. a blowoff bottom of sorts.

Drop a comment, how do you like this indicator?

http://oahutrading.blogspot.com/2013/08/a-proprietary-bond-indicator-makes.html