We are still in error margin, thus the primary sell signal has not been generated yet.
Nevertheless, the market looks very weak and the current technical situation is very serious. Of course, entering long positions is not advisable now.
It might also be a good idea to get ourselves familiar with index futures or other available instruments, which allow us to make money on failing markets. Nevertheless, the sell signal still has not been generated yet and we should remember that.
Unfortunately, I have very limited expertise with this derivatives, thus I am not sure if I should stay in this market if it breaks.
Sources:
[http://en.wikipedia.org/wiki/Derivative_(finance)]
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