No Big Gap Up

I was surprised to see the ES fade away from the European highs of 1336 down to 1328 earlier this morning.  This isn't the same market that has been powering higher for 6 straight months.  The price is sufficiently high to put pressure on bulls when the momentum fades away.  I am looking to enter short this morning, but I'm afraid the market won't oblige me with a first day of the month pop which most fund managers are gaming.