ES Can't Catch a Break

As I sit here sipping my sparkling water, the only thing I can think of is that boy do the bulls have a lot of work to do to right this ship. ES is busting through "support" levels everyday. ES can't manage to break above the down trendline (A). I did pick up some long positions yesterday which aren't fairing that terribly but I will most likely be closing them out on the next short covering bounce. So when is that going to happen?

Not until ES breaks above trendline A

I haven't opened any significant short positions since SPY closed the 106.01 gap a few days ago. Because what terrifies me most is that when something tanks this fast, it snaps back to the upside even faster as well.

So I am terrified about holding a short position overnight only to find ES snap back to the upside by 20-30 points the very next day. And after snapping back ES may as well give it all back and tank the next day. It happened all the time in 2008 and early 2009. Stay in cash. Forget about shorting, just be patient for another excellent buying opportunity.