Sticky Situation

Market is too high and overbought to go comfortably long, but we've gapped down and too negative this morning to go short.  Sometimes the best trade is to do nothing.   I didn't see the price action that supports a gap down and sell scenario. Crude oil is only down 0.37, and dollar is slightly stronger.  We've got downgrades of INTC and TXN.  Not exactly the catalyst that should plunge this market lower.  The options trading the past few days have not shown any extreme call volume, that one would expect for a market near 52 week highs.  It seems like we've got a wall of worry.  I do believe that we will rally from the open and fill the gap.  But I will look to short before this week is over.