Not Good For Bulls

Today's initial rally and failure to continue just made the intraday chart more bearish. There is more bearishness but traders are still thinking that a bounce is just right around the corner.  Perhaps that is why there is no give up and a flush lower, the buyers are just hanging on, hoping for a bounce.

I think a bounce will come, but from lower levels.   I am staying short here, and expect the next couple of hours to be weaker.