shit is going down

What you say when you know something big and bad is happening.

Dude, did you hear about Jamie cheating on Zach?
Yeah, shit is going down!

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shit is going down

Moment in time shortly preceding defacation.

"Dude, you've been in there for the past hour. I need the toilet too, come out!"
"Sorry I can't, shit is going down!"
James Bond - Quantum of Solace

"My brow frowned
In strain
As the poo train
Came to town
Shit was going down"
Seamus Heaney - Childhood Memories

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shits going down

when the anticipated event finally takes place right in front of you, this means that "shits going down".

joe and mike have been talking trash and now they are about to throw ones, finally! shits going down!

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Shits going down

It's whenever your in a conversation and you say this phrase, your ass blows up with shit

Man: Aye dick head!
Friend: What u say to me nigga?
Friend: Call me that one more fucking time and shits going down

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