The way I see it, the failure to even get above 1290 for the third time after it crossed it earlier today indicates a major sell off is imminent, give it 30 minutes or so to get through 1282...
I think Zeev is right on this one. I still have intraday charts up, but I am looking at the daily on QQQ and GS for instance, and it looks very bad IMO for longs.
I am doing much better looking at 60 min or daily chart and ignoring smaller timeframes.