Final update

My minor emergency requires that I am away from my computer until after market close. So far, there's nothing unusual about today, it's almost a mirror image of the last several days, gap down, buying and then distribution into highs with a little buying here and there near the lows. It should be decided after 3 pm, it'll either do as it has done and give up some of the day's gains or it will put together a strong late afternoon advance. They are not tipping their hand yet, except to say they keep accumulating at the gap down, they may have accumulated more then they've sold, I can't tell yet. The market is in a good lace for a bounce, but until we see it, I'd still have that short portfolio in place. Interestingly, the 5 min chart is stronger then the 1 minute, maybe they are accumulating more on those gaps down?

I'll answer your email when I get back, my apologies for the inconvenience.