My current situation..

call me scared but I reduced my risk which was spread out a little to wide off that bullish diverged RSI on the 10 min bars. That RSI signal offered extra lift into the close and it was time to take down the first leg of profits anyway. I'm out of my put option positions in /ES, OIH, HD and covered my short positions in GS also closed out of SRS, SMN, FAZ and DUG all of which had decent gains in them. I re-entered shorts in /ES as well as long again in SRS and a new position in EEV near the close. The idea was to narrow the focus of my Bearish outlook with just a few positions that I'd be able to manage a little better in the event of any surprise out of Alcoa etc. The further we slide down the more I'll concentrate my Bearish view via /ES on Globex which offers the ability to bail out any time of day or night and as we get into the heart of the earning seasons that offers slightly more peace of mind. I attached the summation index to highlight the near equal distance between down legs which at this point could stall the downward momentum, also RSI is very oversold though none of these things matter in situations where the tape may be about to snap and take us down sharply. So long story short, I am short in the hopes that we are at one of those points in time but some what flexible to bail if I'm wrong...