Everyone and his dog is seeing this obvious idea...

...so be careful. It may seem that trendline and resistance rejection combined with tight upward channel breakdown is a nobrainer short (it is), but it could give you hard times after initial reaction. People are still looking places for long entries with mid term investments and pullbacks are their favorite places to add. In order to get bigger move down (and truly change the trends direction), we need market to trigger stoploss run from people who have been riding this big upward move. Be extra careful while managing your short positions.

Comment:

Excellent! Initial down move completed, few day consolidation and bounce = longs piling up "oh it wasn't so bad..." and then BOOM! Happy weekend my bear friends :D