Currently all indicators are on tops, and have a whole lot to go down to. For each previous corrections the road down was sharp for the indicators on the monthly chart, and it may be different this time. But once the supports (red lines) are broken, i would seriously consider getting on the sidelines (partially, i already am). I also monitor Williams VIx indicator provided by Chris Moody that i found a useful addition for cases of doubt. Also i check MA cross signals for additional info.
Basically, be on alert, watchout, and have an exit plan ready.