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Move to multi-day lows shows a much different market now

nearly 2 hours in.. seeing some very different price action than the last few weeks, with the attempted breakout above 2365 failing and now giving back over 10 handles in the last couple hours. At current levels we could potentially form an ENGULFING PATTERN compared to yesterday, and would be the first time potentially that SPX , NDX and NAS COMP would close UNDER prior days lows since late January which is important in signaling a slowdown to this move- (Despite industrials weakness, DJIA has NOT done this yet)  Breadth went from nearly 3/1 positive to negative since today's open and still seeing some weakness in the US Dollar index along with rates, which tends to be an explosive combo for Gold-  Todays' rip helping to recover around 50% of the entire selloff from last July, and getting stretched short-term while Crude continuing to make upside , in following suit to what happened back on Tuesday- Financials, Discretionary, and Tech down 0.50% while industrials leading the decline today , lower by 0.90% as stocks like URI, R, CAT, FLR, FLS are all lower by 2%.  Signs of NASDAQ turning down vs SPX are evident, while the Russell 2k has been underperforming broader market since mid-December- KEY TO NOTE:  XLY, XLF and XLI all have countertrend sells in place today, and XLY, XLI could confirm those today, while XLF would require a bit more weakness, but is expected.  For now, into Europes close, S&P fell under yesterday's lows but has since rallied to hold this for now. but this afternoon will be the key-  However today should serve as at least a warning of a move like this could happen in the near future which should extend-  For now, its early to make that call, but watching the action in the indices carefully