Remember that one day doesn’t make a trend. Bulls are still in control until the bears see some follow through on there selling. Not looking to load up on shorts at this point, but rather ease up on my long positions. These key resistance points get very tricky as there are a lot of sellers above the line and a lot of buyers below the line. Bulls have been on a huge run so there is no reason they want to stop now. They just have to make it through the levels of sellers that are at this resistance point. Until someone wins that battle the trading will continue to be tricky. I will look for the 20 day moving average in the SPX to be a strong support for any more selling.
{denvideo http://www.youtube.com/watch?v=TUovYD_IL-g}
