The S&P500 (ES) is tiring after forming a fresh record high Friday, hovering just below upchannel resistance (on the weekly chart). Significantly, although ES has failed to buckle in the last year amidst increasing warnings of a deep correction or crash, the ES increases in its vulnerability the more overbought it becomes. Any weekly close below the uptrend support connecting the March, June and July lows will dramatically increase the odds of a retest of the weekly chart upchannel support in the week or so after. The weekly, daily and 4hr RSI, Stochastics and MACD are tiring or steadily sloping down. I am short as of today at 4419 although if I were flat, I'd look to go short in the red zone (of the daily chart), targeting the green zone for Monday. The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).