Dead feeling is going down (8)
I believe the answer is:
demotion
'is going down' is the definition.
(I've seen this before)
'dead feeling' is the wordplay.
'dead' becomes 'd'.
'feeling' becomes 'emotion' (emotion is a kind of feeling).
'd'+'emotion'='DEMOTION'
(Other definitions for demotion that I've seen before include "The putting down" , "Forced loss of rank" , "Reduction to lower rank as punishment" , "A lowering in rank or position" , "Going down" .)