SPY: Intraday chart of the index showing a continuation of breakdown after failing at value area POC and a bear flag for the chart. Bearish engulfing on power hour candle and a clear gap to the next value area of 416.53 with failure at 418 level. Next KL's are 415.02, 413.52. VIX at highs at 32, PCC >1.02, and advance decline of the index favoring sellers. Lower levels anticipated due to yields, DXY value, and weak market internals. Big tech ER on deck on watch as volatility remains at higher levels.