Looking at market sentiment, now would not be a very optimal time to be short. Taking a closer look at a contrarian indicator, the put/call ratio, we are at an extreme levels.
Just be cautious of initiating any shorts at these levels. We are looking for a bounce out of here as many stocks are nearing areas that could provide support. Watching AAPL, MA, BIDU. As we highlighted in earlier post these are coming into areas that could provide a nice base or rebound. We saw AAPL approach an area of high probability of bouncing from and will look for more possibly in MA and BIDU.