As is often the case, the chart to keep an eye on today is VIX. Its SMA10 is attempting to cross above its SMA20. 
The last time we saw a positive cross was July 30, two sessions after SPX topped out at 3027.98. The cross reversed on Aug 28, just after SPX began its 187-pt rally.
continued for members…
The two were bouncing around this morning, crossing and uncrossing. Here’s a super close-up from just after the open.
SPX made a valiant attempt to close the Aug 13 gap on Friday, but came up a couple of points short. This leaves the door open for another try as soon as tomorrow.
If the analog is still in play, SPX won’t bounce at 2943.31. It will keep on going and bottom sometime in the next week or so. My preferred dates are Oct 4 and Oct 8, but it could easily be on either side of that by several days.
A sharp plunge such as I anticipate would probably prompt a positive outcome — real or not — during the trade talks scheduled to resume Oct 10 and set the stage for a rally into the end of the month when we have an FOMC meeting and Brexit.
VIX is positioned to force the issue with a breakout of the purple flag pattern. But, since the Q3 isn’t quite over, it’s content to backtest the SMA200.
When the time comes, we should see RB break down below its yellow channel bottom again. Currently, it’s just backtesting the broken white channel.
And, CL should ideally make some more headway. Though, as long as it doesn’t rally again, the bears are probably safe.
USDJPY is still feigning a breakout which, beginning as soon as tomorrow, should fail.
TNX is poised for a sharp plunge. I wouldn’t be surprised to see the 2s10s invert again.
Last, GC has broken down below its little red channel and is testing its .500 Fib. If it drops through it, it has support at 1463ish. Over the past year, it has rallied in the midst of SPX’s meltdowns. I suspect it will do the same this time, pushing up to the .618 at 1588.20.
As I mentioned Friday, I’ll be out today. I don’t expect the decline to get going in earnest just yet, but you never know. At this point, I think it will be content to hang around 2972 and try to finish Q3 with a slight gain (Q2 closed at 2941.76 and Aug closed at 2926.46.) Though, it can rally up to 2982 without breaking out of the falling white channel.
GLTA.