Market update

I continue to watch the market for signs of a reversal.  Then you get a one day, two day rally, and then WHAM, down again.  Last couple of days, the market was up on high volume and down on low volume.  If the market indeed is forming a head and shoulder pattern, we should see a rally soon for a few days.  However, it seems as if we may visit the 9500 mark soon (near the first fibonacci level target - see post from earlier about fibonacci targets).  Seems like there is no good news to be had.   Dark clouds continue to gather over the Euro with various governments in trouble.  The oil continues to spill and BP continues to go down.  Why did I never consider buying puts on BP on the news of the spill, I don't know.  I have noticed that when you are in a bullish mode, its hard to switch and go into a bear mode on a dime.  Even if you sell all your long positions, its hard to start going short.  I continue to watch Chipotle.  It is showing great strength but my indicators are starting to predict a drop.  Yet I cannot bring myself to go short on this stock.  With Chipotle announcing the opening of their first European store, they will be entering a new growth phase in Europe (remember Starbucks in its heydays).  I will continue to look for the right entry point in this stock and get back in when the market changes direction.