IBM H&S breakdown signals further downside for SPY

IBM today closed below $127. Why is that important? $127 is a neckline of H&S pattern, and it does look like we will be headed to $122 on IBM. This could signal a sell-off in the markets on Tuesday. $106 is the target to the downside.

I don't recommend going long until this bear market is over. Cover short positions @ support and short on bounces.

IBM, neckline is the purple trendline: