Nasdaq (update)

We made new highs today on selling and closed below the 10 DMA.  We also formed a bearish candle pattern engulfing the previous 4 days.  So, over the past 5 trading days, we've had this engulfing pattern along with 3 doji's.  I believe the market is signalling a tired market that needs a correction.  So, in addition to the short position I suggested the other day that has stops at 5535.25, I'd get short @ 5403.00.   I'd put stops above the high of 5481.50.  This is potentially a low risk, high reward trade because these candle patterns are inside my Fade Zone.  If a top is established inside it, then you can expect a large downside move.  My first estimated target is ~ 5166.00.  I'd like to see follow through selling tomorrow and close below the 20 DMA.  We haven't closed below it for more than one day since December.  It would set-up an immediate test of the 50 DMA ~ 5317.00.