Bearish

The market has had a nice rally off the recent lows of 104075. We have seen light volume on this up move and it seems as though it has just been some short covering. There is so much confusion on the street whether or not this bull market has come to a halt. I believe it has and we will start to trend down. When the market breaks the uptrend and then falls below the 50 day m.a. it is just no good any more. Selling rallies until they get above the 50 day (110500). Resistance is 108750 and support is 105825.