selling continues

Is it seeping in to the collective conscious that these past few months was simply a counter-trend move? We shall see, judging from how we react below this Head & Shoulders neckline.
Price didn't even attempt a test of the Previous Day's High (PDH) and we got yet another trend day down, giving us a close just below the neckline of our head & shoulders pattern.
Price did get a bounce at the Previous Day's Low (PDL), but failed a second test on strong volume.
After a trend day, such as today's market, I'll be watching the low ($88.) from the last hour, and watching how it creates a support/resistance/target level.
This 60-min chart of the SPY looks pretty ruined. Price has closed at an important level (pennies above $88) and the momentum indicator looks like it's ready to build another momentum swing to the downside.
Here's today's market profile on the SPY