200dma weekly is absolutely crticial level. Also aligns with 50dma on the monthly. Short the sp500 on break below 200dma. Could take a few weeks to officially lose it.
End of q1 coming, US Earning might provide some minor relief and i would short those pops, as China and other asian countries will not be so positive. After some earning and the picture becomes clear, slow growth for q2 will be getting priced in.