SPY Gives a Down Signal 7/31/14

Markets got whacked today.... think it was the biggest down day this year. My trading system on S&P500 (SPY) gave an immediate exit signal so I will start paring down immediately. I know I can get whipped around but I need to follow my systems. The Dow Jones 30 (DIA) system had given a down signal a few days back. Would have been nice if I had acted on it but complacency in the markets has set in. Today all 30 stocks in the Dow Jones 30 showed down. That is unusual....Still, the moving averages are all in healthy positions. The only problem is markets can drop 10% before people get around to reacting to it.

Here is the chart on SPY