Momentum was weak today for the futures as well as the indexes. Although we made a push up in the morning, we did not however see a sustained move higher. What we did end up with throughout the day was a movement looking like a wedging pattern. This usually follows with a continuation which in this case would be for more downside. The EW options here would be for an ABC corrective or a more pronounced 1-2-3-4-5 pattern to the downside. Our MT and ST remains on the uptrend so shorts should be cautious of their positions.