Facebook IPO did not help the market to rise.
Shown are two short trade from the Russell 2000 (TF in Futures, IWN for etf).
By just inspection, one can put two short trades.
The first trade can be shorted from the yellow line (the previous close) and the cover is at the red line (support). You must be quick to cover at S1 because that's where most traders are watching. Notice the big red bar that bounced from the red line?, it's a sign that it is going to reverse.
The second short trade is below the yellow line and the descending cross over of the 20MA and the 10EMA. Cover at the close is the most appropriate area. The second short entry can be justified clearly because of the downtrend third lower highs of the day. Besides, it's below the previous close plus the MA/EMA's crossovers.
