The stock market rally looks tired. I think it is still too early to be actively shorting. The higher percentage play tends to be to wait for a top to show itself and then short the first reaction rally after that top. There isn't a top yet, much less a rally failure off the top. While a lucky few traders will short at that exact top of this rally, I am unlikely to be in that group.
With all that, I think it is a reasonable time to take some profits, or take some money off the table for the intermediate and long term.
If I had to guess, there is a still a bit of gas in the tank to propel the stock market higher, but not by much. So the bottom line: short term flat to higher, intermediate term flat to down, longer term looks less promising.
Long IWM
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