Finally a Gap Down

We have a 7 day gap up streak that will be broken today barring a miracle reversal in the next hour.  One thing I noticed yesterday were the high index put call ratios on the CBOE and the ISE.  Unlike the equity put call ratio, this is not bullish.  Often, this kind of index put activity preceded a pullback in the market. Seasonality is still very favorable, especially for the first 2 trading days of January.  If we gap up next Monday as I expect, I will likely start building a short position.