- Short on further bearish confirmation or short at 18050. - RSI is below 50 with a bearish divergence. - Price has reached channel resistance. - Price is below the 50 MA and the 200 MA. - Hedge fund Window dressing positions are expected to unwind next week because it's the start of a new month. - Hedge funds are net short as shown in the CME commitment of traders report. snalaska.com/cot/current/charts/ES.png - USDOLLAR, TLT, Tbonds & GBPUSD are at elevated levels, suggesting that risk aversion is kicking in.