Indexes are largely positive today but with a very large drop off in volume. Almost all the indexes are close to resistance, $NYA, QQQ, SPY, etc so reason to be cautious especially when $VIX has ticked up today. Transports showing major weakness today so also another reason to be watchful for reversals. Otherwise the 10-30 min frames look fairly positive and today's activity looks more like consolidation.
IBB confirmed the short setup nicely and my position was increased to a mid sized one. Still holding GLD and very carefully watching the 1/2 position of QQQ which if I see something I don't like might be let go. One possibility I am not discounting albeit less likely is that the market stalls right at resistance and blasts off when people think it is about to reverse.