Take a look at how price reacts to the 390 SMA, for instance. Any time it's broken, a retest will usually happen (it's happening right now), but that's followed by a long downtrend. Just check it against the 2000 and 2008 bear markets. Things are shaping up to match those two conditions (with respect to the 390 SMA) almost perfectly, and we're at the point TODAY where that final pivot to the downside gets put in.
Also, there's all kinds of major trendlines that are converging above the price right now, so a lot of upper resistances, on top of a slow forming rounded top. I'm not sure I'd call this a "value zone" at all for going long. If you asked me if it were a value zone for shorting I'd have to pause for a moment to think about it; because the reasons are definitely there to be bearish right now, IMO.