Tired Market

The market looks extremely tired and cannot bounce. That's what you call bad news, bad action which is a good tell that the market is heading lower. I've continually called for a break to new lows and it looks like that will happen. Shorting the SPY is a good idea in my view both intraday and for the intermediate term. Markets have been range-bound today and I'd look to short the extremes up (over 100 up on DJIA, up 10 on S&P) as a continuation of that. I don't think we have anything that will propel us higher here, just lower.