The opening move lower has exhausted the 15min cycle, so we're getting a bounce this morning. That will give bulls another chance to exit..and bears a better level to short from. Everyone can be happy then? ;)
How high will the bounce go ? Hard to say, we could easily still push one further high, and that's why I am patiently waiting to short, rather than whacking buttons like a maniac.
IWM 15min'
SP'60min - bearish outlook
I certainly believe today will probably be a fairly good day to short, but right now..there is no hurry..at least for a few hours.
More later...throughout the day!