The unbearable lightness of volumes

Well, the yesterday's setups were spoiled as the market gapped down at the open. Bears got to be disappointed as the promising sell-off proved to be shallow and short lived. As the overall volumes continue to dwindle, my gut feeling is that big boys are sitting tighter than ever, and the trading public along with the under-water shorts are doing most of lifting here. Personally, I want to see a big-volume up day that breaks the 5-day top before commit to the long side.

Could not find any solid long setups because the general overbought conditions with stochastic flashing sell-signals. On the other hand, I become a bit wary about all the short setups mentioned last night, despite of concrete technical reasons behind them, something just not feel right, kind of the feeling you got when you short a strong bull market.

Can you say bull?