[Soultrader]

Interesting. I would still be careful in holding a short bias for the bigger picture. The trendline has not yet been violated and we are seeing an ascending triangle pattern. This is the same pattern we saw in the YM a few weeks back and it then went on to rally 300 points.

However, that failed breakout on the Dow cash index does worry me. I think this week will be a very interesting week for the indexes. For the YM, any break above the May high will be explosive.