Quick Market Update

After a quick look around at some of the averages, some of the core short positions, etc. I certainly think the near term doesn't look good, but there are a lot of gaps that look like they will see ugly trade as they are filled, what is holding me back from entering any shorts, puts, add to positions right now is the question, "What happens after the gaps are filled?".

We are still very early in the day and I'm not convinced that the gaps are filled and the market keeps moving south, I am fairly well convinced that the back of the uptrend is broken, but there's still a lot of opportunity for whiplashing and it's the position of some of the charts in timeframes just beyond the gaps that have me concerned not about the market's disposition, but rather timing in negotiating those whiplashes.

I think patience is still probably the best posture right now.