The market is back to its up/down/up/down ways, so there is some uncertainty regarding current direction it wants to take. But there are some clear price levels to watch going forward if you are bearish.

For one, you should be watching the 20-day moving average. So far it has held up well and will need to, if the bulls are to sustain the momentum they have shown since late June. 

Secondly, 2171 will be the first barrier that the bears will need to cross through, followed by 2155.

Break those two levels, and you are looking at some temporary highs being in place and further downside being the likely scenario. 

So use the watch-list I have posted below. There are number of quality setups and ones that I am watching for myself too. One of the stocks showing a lot of potential as a short candidate is Ford Motor (F) which is bear flagging and looking to move below $12. 

So stay alert, the bulls might be in control still of this market, but a change in direction could happen at any time. 

Here's the trade setups: