Case for SPY to fall on Monday 5/14/2018:

A) Elliott Waves: 5 wave pattern for wave X (part of a more complex corrective pattern WXYXZ?) with wave 5 right around a 1:1 extension of wave 3.

B) RSI: Ascending wedge broken after entering overbought territory

C) MACD crossover

D) Volume divergence (volume tapering as price is increasing)

Comment:

Well, missed by a day since the last closing push up at the end of the trading session on Monday killed my call (but if you count after hrs trading!!!! I nailed it :-) ). I held my short positions despite the move up on Monday because the intraday trading action, low volume, gap up with a significant retracement, etc, all suggested to me the relative top was in fact in.
Here is my next idea for the SPY that discusses the gaps that were formed on the most recent move over the last several trading days.