Time to Short?
We had the profit taking sell-off and then the bounce but is now the time for shorts to come in more aggressively? After yesterday's gapped gains there was a significant slow down in the market advance. This action presents an opportunity for shorts to attack. The Semiconductor Index is one of the most attractive indices for shorts. The massive June bearish engulfing pattern remains dominant and offers guidance going forward. Tuesday's doji has the makings of a bearish harami cross. Technicals are bearish and aligned in shorts favor.