New Indicator to Forecast the Stock Market Declines?

I've created an indicator called the "PK Negative Indicator" and it's a very simple construction.  Don't ask me how I came up with that name.  I'm horrible at naming things.

I could be wrong, but it seems that there's a divergence between the PK Negative Indicator and the stock market prior to the market's decline.  It will be interesting to see if this relationship continues to hold.

Recent decline in the stock market

Stock market crash in 2008

Dot Com Bust