Following our update earlier in the week - we were pretty much spot on with our predicitions - we said go long Dow on Monday morning (take profit at 50 points) and then sell, the Dow rose about 60 odd points and then sold off approx 200 points yesterday.
Key risks remain; Ireland, China currency and now Inflation concerns, and of course the hangover from QE2.
Stay on the sidelines for now.
We'll take a fresh view after the economic data that is expected to be released later in the day.
Have a good day.