Indicators computed on the SP500 daily data, that include volume of SPY and ES March19, indicate initiative institutional selling in the SP500 stocks on 2/8/19.
Also the algorithm Arzamas-16 indicates big money flowing out of SP500 stocks. These two factors make it likely that we have reached a market top. The coming days will be important. Sellers took the initiative on 2/8/19, we will see today and on Monday how strong the commitment of buyers are. Longs should be cautios. In fact, taking a 1 unit short position is justified.