Yesterday's session left us with more questions than answers. The QQQQ refused to break down despite technical signs of distribution.
A sentiment rally is certainly a possibility here, which can squeeze some short positions.
Shorts in housing should be added to if prices bounce here.
Other than that, there isn't much to go on until we see how prices respond today. Europe and Asia are down slightly at the time of this writing, so we don't have a clue how today's session is going to shape up. It's best to stay very defensive here.
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