Not Taking Longs...

The fact that we spent so little time down at 1100 yesterday makes it less surprising that we came back down to this level so quickly today. The fact that we didn't quite make it up to yesterday's high this morning and then filled the gap so quickly is not a good sign for the market. I am slowly turning my bias to the short side. However, market tops often take time to play out. So we can still move back up and flirt with the high 11 teens... But only weakness showing now... Scalp long is OK, but nothing to hold yet.