COT numbers are out and they continue to show Smart Money is Short the S&P futures.

The COT Report:
The latest Commitments of Traders report from the CFTC shows that Commercial Hedgers sold 5,858 S&P 500 futures contracts last week to bring their net short position to -13,080 contracts. Large traders were net short -13,296 contracts, with Small Traders net long the remaining 26,376, the so-called "weak hands". For the Nasdaq 100 futures, Commercials sold 1,386 contracts last week to bring their net long position to 1,581 contracts. Small Traders were net long 3,248 contracts in the Nasdaq. Commercial action in Dow futures saw the smart money buy 200 contracts to bring their net long position to 6,042 contracts.
Commercial Hedgers were better sellers in the S&P's last week, while Small Traders were better buyers, a short term bearish sign. Commercials are now net short in the all important S&P futures, and that has been an intermediate term bearish sign historically.