50 Day Rejection

Strong rejection from the 50 Day MA. Very bearish sign. However, Shorts are still way higher than Longs, so I can't see the market allowing us to drop with out squeezing some more out of Shorts. Whether we have enough fuel for a decent rally is anyone's guess. Personally I would be staying away from going Long, and wait for a decent opportunity to go short if we decide to have a small rally up.