Slightly Bearish

The market had a low volume rally on the close yesterday. We came up short of my resistance at 110450 and started to head down overnight. I do not believe that this market is ready to go back up yet. Volume increases on the break and decreases on the rally. That is a sign of weak market in the short term. I am selling rallies until we have high volume on the upside and we break through my resistance levels. Resistance today is 111475 and support is 107275-107050.