The Dow seems to be stalling like it did back in June. This time could be a different end result as we’re right near resistance and a rejection wouldn’t be unreasonable. I wouldn’t be shorting this until the breakdown occurs, as the trend is still up and a violent upside break wouldn’t surprise me either. I’ve been battling an intolerably hot Vancouver summer, and the beach seems like a better place to be as we churn. If you really want to short, pick a weak sector like the metals and daytrade, but be careful holding overnight.
That’s how the markets fool people though. They do nothing, do nothing, and just when everybody becomes frustrated and let’s their guard down….BAM….they make their move.