A failure to close above a weekly (monthly) when a cycle ends suggest a bear market is upon us.
SPX is currently under the monthly moving out of a blood moon cycle.
Next blood moon cycle is in 2018 when the market should have recovered or be starting its recovery.
100WEMA giving sentiment drive, failure to recapture above is usually .
Each bear market (2000 & 2008) have reach at least S5 of the peak.
I would also note that in 2011 we saw similar but the month ended above the and bull market continued.