Below is a 30min ES chart with overnight data removed.  Looks like we are making lower highs right at the 61.8%, 55.9% and the 50% daily retracements. 

On our daily chart we have a 50% pullback at 804.25 and a 61.8% pullback at 837 (see 2nd chart if unclear).  Last week I was expecting a push to this 837 level and a big fall. We failed to get that high (see "A").  The next day, the 55.9% level acted as resistance (half way between the 50% and the 61.8% levels) (See "B").  Today we hit the 50% level and fell very fast and hard (See "C").

Does this series of lower highs mean lights out for this rally? 

If it's unclear where these levels come from, below is the daily chart showing where the measurements were taken. Thus, the chart above is a "zoomed in" view of the chart below.

Lesson