Tuesday’s timid feints in both directions were not even worth the day trader’s time, much less a reason for anyone to change one’s outlook, be it bullish or bearish. My gut feeling is that the S&Ps will tank after making a marginal new high. However, so many of my colleagues evidently envision the same scenario that we must remain on our guard against a collapse without the usually obligatory head-fake. Its purpose would be to discomfit bulls as badly as bears have been discomfited by February’s short-squeeze rally. By now, though, even without a last-gasp thrust, bulls are probably sufficiently complacent to ride that first leg to hell without even realizing they’re aboard. We’ll keep to the sidelines for now, but you should stay tuned to the chat room if you’re interested in taking whatever pot-shot opportunities may arise in the course of the day.