As price advanced passed its' previous high of 12.20, it did so on negatively diverging internals. This is not what you want to see when long. Typically, indicators will create new highs with the price action to confirm its' run. Right now the indicators are not confirming the price action to the upside. Add in the fact that BAC closed below its line, and we have a potential short to the lower in between 11-11.50.