The bullish percentage for the nasdaq actually went down yesterday. It is in solid sell mode, and I mean solid sell.
The market often reverses its move from what it did when the fed anounces, like this week, or from a move on jobs friday, like it did last month.
Just saying, I feel better being short over the weekend than being long. HOwever, I dont see much more of a drop than down to 1588, but it could get a lot worse than that.
Of course, am going to be bankrupt is we run straight to 1700 next week!