Risk is high. Market's been trading sideways for a while, but now it looks like it's rolling over. There is lots of overhead supply created by people buying in the range and now stuck with a loss. The longer we stay below the range the more willing these people will be to sell and that can create even more selling. For now even though it looks like we are going to roll over, I would not go and short yet, wait for a bounce, second entry is higher probability trade. Staying away from the long side now except for pickings in some areas, like metals, that can move independently of the market.
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