This chart would suggest we are very close to a complete and utter collapse in stocks. The rising bearish wedge pattern indicates when something is far overbought and usually corrects dramatically to the lower side, usually caused by some sort of catalyst. The Fed losing control of REPO may be that catalyst or may be just the start of something even more dramatic. Either way it's not looking good for stocks and it would be sensible to be reducing your position and possibly going short.
